GDP shrank at revised 0.6% rate in second quarter, signaling US remains in technical recession


The U.S. economy shrank at slightly slower pace in the second quarter than previously reported, but continued to meet the criteria for a so-called technical recession as raging inflation and higher interest rates weighed on spending. Gross domestic product, the broadest measure of goods and services produced across the economy, shrank by 0.6% on an annualized basis in the second quarter, the Comm...

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