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Economics

Key Gauge of US Economic Activity Paints Picture of Weakness

  • Gross domestic income revised down to 0.1% in second quarter
  • Average of real GDP and GDI now negative in first half of year
Updated on

A gap in the government’s two primary measures of US economic activity during the first half of 2022 narrowed, pointing to a significant loss of momentum during the period.

Inflation-adjusted gross domestic income -- one of the government’s main measures of economic activity -- rose at just a 0.1% annualized rate in the second quarter, Commerce Department figures showed Thursday. That represents a sharp downward revision from the previously reported 1.4% gain.