The US economy is declining due to falling GDP last quarter, according to data released by the Bureau of Economic Analysis on July 28. In the second quarter of 2022, GDP fell 0.9% after decreasing 1.6% in the first quarter.
When GDP declines for multiple quarters in a row, it raises concerns over a possible recession. But determining when the economy is in a recession is more complicated than looking at a single data set such as GDP.
