US economy enters technical recession

GDP drop of 0.9% in Q2

Elliot Gulliver-Needham
clock • 2 min read
The NBER has not yet designated the US economy as being in recession
Image:

The NBER has not yet designated the US economy as being in recession

US GDP contracted 0.9% in the second quarter of 2022, putting the country into a technical recession after two consecutive quarters of negative growth.

The GDP numbers defied expectations, with experts predicting 0.5% growth. This followed a contraction of 1.6% in the first quarter of this year putting the US into a technical recession by globa...

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