See Local News
Get Balanced News From Your U.S. State.
See Local News
See all locals

U.S. economy shrinks in the second quarter, GDP shows, and invites talk of recession

Posted on AllSides July 28th, 2022
From The Center

The numbers: The U.S. economy shrank at a annual 0.9% pace in the second quarter to mark the second decline in a row, intensifying a debate over whether the U.S has already sunk into a recession.

Gross domestic product, the scorecard of sorts for the economy, had shrunk at a 1.6% pace in the first three months of the year.

The back-to-back declines in GDP were the first since the 2007-2009 Great Recession.

A sharp drop in business investment and declining inventory levels largely accounted for the negative GDP print. Government...

Read full story

More News about Economy and Jobs from the Left, Center and Right

From the Left

From the Center

From the Right