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WASHINGTON (AP) — The U.S. economy shrank from April through June for a second straight quarter, contracting at a 0.9% annual pace and raising fears that the nation may be approaching a recession. The decline that the Commerce Department reported Thursday in the gross domestic product — the broadest gauge of the economy — followed a 1.6% annual drop from January through March .
After going backward from January through March, the U.S. economy probably didn’t do much better in the spring
After going backward from January through March, the U.S. economy probably didn't do much better in the spring.
The U.S. economy shrank from April through June for a second straight quarter, contracting at a 0.9% annual pace and raising fears that the nation may be approaching a recession.
Americans spent only a little more in the second quarter overall, as a decrease in purchases of stuff was offset by experiences.