US GDP decreases 0.9% in Q2; overall GDP increases to $24.85T

[F-22Raptor]

Real gross domestic product (GDP) decreased at an annual rate of 0.9 percent in the second quarter of 2022 (table 1), according to the "advance" estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP decreased 1.6 percent.

Current‑dollar GDP increased 7.8 percent at an annual rate, or $465.1 billion, in the second quarter to a level of $24.85 trillion. In the first quarter, GDP increased 6.6 percent, or $383.9 billion (tables 1 and 3).

Gross Domestic Product, Second Quarter 2022 (Advance Estimate) | U.S. Bureau of Economic Analysis (BEA)

Real gross domestic product (GDP) decreased at an annual rate of 0.9 percent in the second quarter of 2022 (table 1), according to the "advance" estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP decreased 1.6 percent. The GDP estimate released today is based on...

www.bea.gov

 

[MH.Yang]

If the US govt continues to raise interest rates, the global economic crisis is really coming.