News > US economy enters technical recession after growth tumbles 0.9%

US economy enters technical recession after growth tumbles 0.9%

The U.S. economy shrank in the spring for the second consecutive quarter, meeting the criteria for a so-called technical recession, as raging inflation and higher interest rates forced consumers and businesses to pull back on spending. 

While two consecutive quarters of negative growth is technically a recession, other timelier economic data are not consistent with recession.