Topline The U.S. economy shrank for a second quarter in a row this year, a second estimate from the Bureau of Economic Analysis confirmed Thursday—once again signaling the start of a technical recession even as economists predict signs of a slowdown will only grow in the coming quarters, likely prompting the government to officially declare the economy has entered a recession. “It doesn’t make sense that the economy would be in recession,” Fed Chair Powell said on Wednesday, … [+] even as other experts say it’s likely only a matter of time until the government officially recognizes it. AFP via Getty Images Key Facts The U.S. economy shrank at an annual rate of 0.6% in the second quarter despite average expectations originally calling for a 0.3% increase—marking the second consecutive quarter of negative gross domestic product growth and thereby signaling the economy has entered a technical recession, the Bureau of Economic Analysis reported in a second estimate released Thursday. The figure was worse than the 0.5%… Click below to read the full story from Forbes
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