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GDP Declines as Recession Chances Grow

The U.S. economy contracted for the second straight quarter from April to June, hitting a widely accepted rule of thumb for a recession, the Bureau of Economic Analysis reported Thursday.

Gross domestic product fell 0.9% during that period, following a 1.6% decline in the first quarter and was worse than the Dow Jones estimate for a gain of 0.3%.

While the National Bureau of Economic Research has not officially declared a recession, the economic retraction meets a long-held basic view of recession.

Click here to read the full report from CNBC.

A.J. Hecht

A.J. Hecht is the digital content editor of THE SHOP and host of the In Gear with THE SHOP podcast. Have an idea, a tip, or a question you’d like to see answered? Contact A.J. at ahecht@cahabamedia.com.

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