US Enters Technical Recession After Two Consecutive Negative Growths
US Economy in technical recession as GDP shrinks for a second quarter. Q2 GDP fell at a 0.9% annualized rate as inventories, residential investment subtract from growth after a 1.6% decline in the first three months of the year.
FLASH: US Q2 GDP fell by 0.9%, sending the US into a technical RECESSION (read: 2 consecutive quarters of GDP decline). President Biden better buckle up. Things are going to get worse.