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The United States is Officially Entering Recession, GDP Fell 0.9% in The Second Quarter

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After GDP (gross domestic product) declined for the second consecutive quarter, the United States is officially entering a recession. “Gross domestic product fell 0.9% at an annualized pace for the period, according to the advance estimate,” CNBC reported. “That follows a 1.6% decline in the first quarter and was worse than the Dow Jones estimate for a gain of 0.3%.” Officially, the National Bureau of Economic Research declares recessions and expansions, and likely won’t make a judgment on the period in question for months if not longer. But a second straight negative GDP reading meets a long-held basic view of…

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