The bad news will be a major blow for the Biden administration as it prepares for a tough midterm election season 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.
US economy shrinks in second quarter, signaling unofficial start of recession
The Guardian - 28 Jul 2022 14:33
The bad news will be a major blow for the Biden administration as it prepares for a tough midterm election season 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.
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