So did the U.S. just enter a recession? It depends on who you ask.
As you no doubt heard, U.S. real gross domestic product [GDP] shrank for the second consecutive quarter, falling 0.2% in the June period after a decline of 0.4% three months earlier.
For many people, this is a clear indicator that the country is in recession.
But according to the committee that’s responsible for making the official call on what constitutes a recession, it’s more complicated than that.
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