Plus: Pro-Russian agents infiltrated Ukrainian military and security agencies ahead of the invasion. Inside.com Part of Network July 28, 2022 Presented by The U.S. economy contracted by 0.9% between April and June. This is the second consecutive quarter of economic contraction, since the economy shrank by 1.6% in the first quarter , but the National Bureau of Economic Research (NBER) has not yet announced that the U.S. has entered a recession. More: A recession is frequently understood as two consecutive quarters of economic contraction, but the NBER assesses a number of other metrics in its evaluation of the U.S. economy's health, including employment, overall economic output, retail sales, and household income. Consumer spending, which accounts for ~2/3 of total economic output, rose at a 1% annual rate in Q2, down from 1.8% in Q1, the U.S. Department of...
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