The U.S. economy declined 0.9% in the second quarter, meaning | Crypto Signals

The U.S. economy declined 0.9% in the second quarter, meaning that the U.S. is technically in a recession.

Gross domestic product (GDP) declined at an annualized pace of 0.9% in the second quarter, marking two consecutive quarters of economic contraction.

While the report on Thursday morning was worse than economist forecasts of a 0.5% contraction, it was slightly better than "whisper" expectations for a decline of 1% or more. The Atlanta Fed's GDPNow tracker, for instance, predicted a negative 1.2% print for Q2.