28 sats \ 3 replies \ @k00b 29 Jun 2022 \ on: GDP -1.6%. We're in a recession. bitcoin
I think technically GDP needs to decline 2 quarters in a row to be a recession.
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122 sats \ 2 replies \ @tomlaies OP 29 Jun 2022
Yeah, Q1 was negative as well. So we reached this definition.
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21 sats \ 0 replies \ @k00b 29 Jun 2022
Oh, I missed that.
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2 sats \ 0 replies \ @0260378aef 29 Jun 2022
This was a Q1 GDP revision, not a Q2 print. According to https://www.zerohedge.com/economics/us-q1-gdp-revisions-scream-stagflation
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