GDP’s second quarter loss revised to 0.6%

Caitlyn Shelton

Updated: Aug 25, 2022 / 07:05 PM CDT

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(NewsNation) — A government revision in the gross domestic product shows the U.S. economy shrank less than previously estimated in the second quarter, with the GDP falling just over half a percentage point from April through June.

Although that makes two consecutive negative quarters of gross domestic product, which is typically defined as a recession, most economists say the U.S. is not even on the verge of a recession, let alone in a recession.

In the video above, Dan Roccato, finance professor at the University of San Diego, interprets the numbers.