U.S. economy shrinks in Q2, fueling recession concerns

Times Square.
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The U.S. economy shrank for the second consecutive quarter in Q2, the Bureau of Economic Analysis reported Thursday, bolstering fears that the nation is about to or has already entered a recession.

Gross domestic product (GDP) dropped by 0.9 percent on an annual basis from April through June, The New York Times and CNN write. Having followed another decline in Q1, Thursday's report is consequently in line with the common-but-unofficial recession definition of "two consecutive quarters of negative economic growth," per CNN.

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