U.S. In A Recession After Second Straight Quarter Of Negative Growth

By News on the Net —— Bio and Archives July 29, 2022

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The United States is in a recession after the economy shrank for a second straight quarter by an annualized rate of 0.9%. On Thursday, the U.S. Bureau of Economic Analysis’ (BEA) first estimate of the nation’s gross domestic product was worse than the predicted expansion of 0.5%, FXStreet noted. Economists widely define a recession as two consecutive quarters of negative growth.-- More...