US plunges into recession  ...News

President Biden has responded by saying, “We are on the right path” The US economy has shrunk for two consecutive quarters, meeting one of the criteria for a recession, official figures released on Thursday suggest. Real gross domestic product (GDP) decreased at an annual rate of 0.9% in the second quarter of 2022, following a decrease of 1.6% in the first quarter, according to a release published on the US government’s website. It notes that the data for the second quarter represents an advance estimate, and more complete data will be released in August. The drop in the GDP reflects decreases in government spen

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