US Economy Slips Into Recession as Inflation Weighs on Growth

US Economy Slips Into Recession as Inflation Weighs on Growth
A person on the floor of the New York Stock Exchange (NYSE) watches TV screens on July 27, 2022. Timothy A. Clary/AFP via Getty Images
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The U.S. economy contracted in the second quarter, marking two consecutive quarters of negative growth, which is a common definition of a recession.

The gross domestic product (GDP) shrank 0.9 percent at an annualized pace, following a drop of 1.6 percent in the first quarter, the Commerce Department said Thursday. The market had penciled in a gain of 0.5 percent during the April-to-June span.

Andrew Moran
Andrew Moran
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Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."
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