GDP report shows US economy shrank for second quarter in a row

A GDP report released Thursday morning shows the US economy shrank at a 0.9% rate from April through June, the 2nd straight quarterly contraction. This is following a decrease of 1.6 percent in the first quarter.

The smaller decrease in the second quarter primarily reflected an upturn in exports and a smaller decrease in federal government spending.

Some economists view the second-straight decline a recession, while others disagree.

Leave a Reply

Your email address will not be published. Required fields are marked *