U.S. GDP Unexpectedly Decreases For Second Consecutive Quarter

U.S. economic activity unexpectedly saw a continued contraction in the second quarter of 2022, according to a report released by the Commerce Department on Thursday. The Commerce Department said real gross domestic product decreased by 0.9 percent in the second quarter after slumping by 1.6 percent in the first quarter. Economists had expected GDP to increase by 0.5 percent.