US economy shrinks in second quarter, signaling unofficial start of recession

Posted on AllSides July 28th, 2022
From The Left
Mandel Ngan/AFP/Getty Images

The US economy shrank again in the last three months, unofficially signaling the start of a recession.

The commerce department announced Thursday that gross domestic product (GDP) – a broad measure of the price of goods and services – decreased at an annual rate of 0.9% in the second quarter after falling at an annual rate of 1.6% in the first three months.

The bad news will be a major blow for the Biden administration as it prepares for a tough midterm election season. White House officials have tried to tamp down talk of...

Read full story

The Guardian

AllSides Media Bias Rating: Lean Left
AllSides Media Bias Rating: Lean Left
108105/84879
See full bias rating for The Guardian
Learn about media bias
https://www.theguardian.com/business/2022/jul/28/us-economy-gdp-second-quarter

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

From the Left

From the Center

From the Right