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BIDEN'S RECESSION: GDP shrank 0.9% in 2nd quarter

It’s official.

The U.S. economy shrank at 0.9% last quarter, the “2nd straight quarterly contraction”:

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And this means we’re in a recession:

Of course, this figure was lower than expected:

And look at this spin! It’s now a “strong recession signal”:

Well, whatever they want to call it, “this economy is weakening much faster than people expected”:

“Perhaps,” you say?

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Guys, there’s a reason we use the two quarters benchmark:

***

Related:

Politico chief economic journo’s sudden pivot on what constitutes a recession is a ‘masterpiece of hackery’

CASE CLOSED: CNN’s John Harwood confirms a ‘recession = economy shrinks for two quarters’

Dems propose raising taxes and spending a day before the country is officially in a recession

Peter Doocy asks Karine Jean-Pierre about Biden economist’s previous definition of ‘recession’ (EPIC dodging ensues)

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