Monday, November 18, 2024
HomeUS GovernmentGDP drops 1.4%, US economy shrinks for first time since 2020

GDP drops 1.4%, US economy shrinks for first time since 2020

The US economy shrank by 1.4% in the most recent quarter, contracting for the first time since the pandemic-induced recession two years ago, according to government data released on Thursday.
Surging inflation amid persistent labor shortages continue… [3697 chars]

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