U.S. economy (GDP) just contracted second straight quarter, which is the definition of a recession but here’s why recession not “official” yet

First of 3 GDP readings for 2Q22 declines 0.9% following a 1.6% decline in 1Q22. Two straight quarterly declines is usually a recession but super low 3.6% unemployment offsets this for now, so NBER (the org who calls recessions officially) won’t call it for a couple more months.

___
Check It Out:

– GDP fell 0.9% in the second quarter, the second straight decline and a strong recession signal