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Key US Growth Measures Diverge, Complicating Recession Debate

  • Second quarter GDP contracted 0.6%, better than prior estimate
  • Gross domestic income rose at 1.4% pace, spending revised up
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The government’s main measures of US growth pointed in different directions in the first half of 2022, adding to the ongoing debate on the health of the economy.

Inflation-adjusted gross domestic product, or the total value of all goods and services produced in the economy, decreased at a 0.6% annualized rate in the April to June period, Commerce Department data showed Thursday. That reflects an upward revision to consumer spending and compares with a previously reported 0.9% contraction.