The US economy officially entered recession in the second quarter of 2022, after official estimates showed the GDP, a measure of total economic output, declining at 0.9% rate in Q2. It follows a decline of 1.6% in the first quarter of the year.
The Biden administration downplayed the decline and refused to say that the US was in recession, touting the low unemployment rate (3.6%) and strong consumer spending. While two consecutive quarters of economic decline is the typical definition of a recession, the National Bureau of Economic Research also makes their own call whether the US economy is in recession.
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