scorecardresearchUS GDP may fall again in Q2. Does it mean recession?

US GDP may fall again in Q2. Does it mean recession?

Updated: 21 Jul 2022, 03:50 PM IST
TL;DR.
When GDP for the April through June period is released next week it may be negative again, and by one common rule of thumb two quarters of negative GDP growth would mean the U.S. is already in a recession.
A Hiring sign is pictured at a McDonald's restaurant in Garden Grove, California on July 8, 2022.  The US economy added far more jobs than expected in June and wages rose, adding fuel to worries about accelerating inflation, but giving President Joe Biden a reason to cheer. Biden has seen his approval ratings plummet as Americans face the worst inflation surge in more than 40 years, but after the latest data Friday, he underscored the rapid jobs recovery in the wake of the pandemic. (Photo by Robyn BECK / AFP)

A Hiring sign is pictured at a McDonald's restaurant in Garden Grove, California on July 8, 2022.  The US economy added far more jobs than expected in June and wages rose, adding fuel to worries about accelerating inflation, but giving President Joe Biden a reason to cheer. Biden has seen his approval ratings plummet as Americans face the worst inflation surge in more than 40 years, but after the latest data Friday, he underscored the rapid jobs recovery in the wake of the pandemic. (Photo by Robyn BECK / AFP)