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Topic Title: It's Official: Q2 GDP Number Shows the US Is in a Recession
Topic Summary: Coleslaw....always wrongz! Lolz
Created On: 09/29/2022 09:16 PM
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 09/29/2022 09:16 PM
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Fish Killer

Posts: 63083
Joined Forum: 10/09/2005

It's Official: Q2 GDP Number Shows the US Is in a Recession
By Becca Lower | 8:15 PM on September 29, 2022

It was only a matter of time before the numbers bore out what the American people were already feeling in their pocketbooks and telling pollsters back in June. In the latest review of economic data on Thursday, meant to take the temperature of the U.S. gross domestic product for the second quarter of 2022, the U.S. economy has shrunk for the second consecutive quarter. That's traditionally marked the beginning of a recession.


CNN Business:

The US economy shrank by 0.6% during the second quarter of the year, according to the latest gross domestic product estimate from the Bureau of Economic Analysis released Thursday.

That matches the most recent GDP estimate and shows the economy was in contraction for the entire first half of the year as businesses readjusted to pandemic-era supply chain disruptions.

The latest scorecard on the economy may reignite the debate as to whether the United States has been in a recession, commonly defined as two consecutive quarters of negative growth.

The new report, from a National Bureau of Economic Research panel, is the group's "third estimate of second-quarter GDP," according to CNN Business, noted an "upwardly revised levels of consumer spending, federal government spending and business fixed investment," while being "offset by a downward revision to exports and investment in housing, the BEA said."

It continued:

Gross domestic income, an alternative economic measure of the earnings and costs incurred in production, were revised downward by $47.4 billion to $305.7 billion.
 09/30/2022 07:00 AM
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tpapablo

Posts: 39714
Joined Forum: 07/25/2003

Everyone except for progs already knew that. When progs are living under bridges and eating out of dumpsters (for the few who are not already doing so), they'll still claim the economy is great.

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 09/30/2022 01:20 PM
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Fish Killer

Posts: 63083
Joined Forum: 10/09/2005

Coleslaw claims the economy is fantastic weekly right on NSR.

All Coleslaw ever does is lie. (just like sandi)
 09/30/2022 02:19 PM
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tpapablo

Posts: 39714
Joined Forum: 07/25/2003

Originally posted by: Fish Killer Coleslaw claims the economy is fantastic weekly right on NSR. All Coleslaw ever does is lie. (just like sandi)
Yeah, pretty bizarre.

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I :heart; Q
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