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Economy in recession range, with GDP contracting 0.9% in second quarter


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The Washington Examiner

Zachary Halaschak, Economics Reporter

July 28, 2022

America's GDP fell at a 0.9% annualized rate in the second quarter, a preliminary estimate from the Bureau of Economic Analysis showed Thursday morning.

The report marks the second straight quarter of declining inflation-adjusted GDP — a situation commonly used to define a recession. GDP tumbled at a 1.6% rate in the first quarter.

WHITE HOUSE CHALLENGES COMMON DEFINITION OF A RECESSION — HERE’S WHAT TO KNOW

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