The U.S. economy has declined for the second-straight quarter as the country’s gross domestic product (GDP) declined by 0.9% in Q2. The Bureau of Economic Analysis’s summary of the U.S. GDP follows the recent debate over the technical definition of a recession.
“Real gross domestic product (GDP) decreased at an annual rate of 0.9 percent in the second quarter of 2022,” the BEA report explains. “The price index for gross domestic purchases increased 8.2 percent in the second quarter, compared with an increase of 8.0 percent in the first quarter.”
WE HAVE RECESSION:
Q2 GDP -0.9%, EXP 0.4%
We are officially in a recession.
Q2 GDP is negative, which is the second consecutive quarter.
What do you think about the U.S. economy’s GDP declining for a second consecutive quarter? Let us know what you think about this subject in the comments section below.