US
There’s A Fat Red Flag That America Just Entered A Recession
Mary Rooke
Staff Writer
June 30, 2022 5:16 PM ET
The Federal Bank of Atlanta released a major red flag Thursday that the U.S. economy just entered a general slow down of the economy or a recession.
U.S. gross domestic product (GDP) growth in the second quarter of 2022 fell to -1% based on available data for the current measured quarter, the Atlanta Fed reported.
The Atlanta Fed uses the GDPNow model as an unofficial forecast to estimate the U.S.’s GDP growth based on a similar methodology used by the U.S. Bureau of Economic Analysis, the fed stated.
“The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2022 is -1.0 percent on June 30, down from 0.3 percent on June 27,” the Atlanta Fed reported.
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READ MORE: https://dailycaller.com/2022/06/30/federal-reserve-gdp-red-flag-america-just-entered-recession/
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