U.S. GDP fell 0.9%
U.S. GDP fell 0.9% in the second quarter, Concerns over rising recession
Gross domestic product (GDP)
declined at an annual rate of 0.9 percent in the second quarter.
The report said a 1.6 percent decline in the first three months of the year
There are several reasons for the decline in GDP, including reduction in inventory, residential and non-residential investment, and government spending.
The US economy contracted for the second straight quarter from April to June, bucking a widely accepted rule for a recession.
Officially, the National Bureau of Economic Research has declared it a recession and expansion,
But the second negative GDP reading comes from the original outlook that has long been held for recession,
GDP is the most macroeconomic measure and includes the total level of goods and services produced during the period.
The market reacts very little to this news, the shares are a little low in the open.
Government bond results mostly declined, with the largest reduction at the end of the shorter period of the curve.