These 9 things prove the US economy isn't currently in a recession

  • These 9 things prove the US economy isn't currently in a recession

    Posted by on August 6, 2022 at 8:21 AM

    Shoppers walk through New York's Herald Square, outside Macy's on 34th Street.

    Last week's negative GDP print worsened recession worries, but other indicators are still strong. Labor market data reveals companies are still hiring fast and retaining their workers. Household finances are generally in good shape, and Americans continue to spend big.

    Last week's GDP report painted a gloomy picture of the economy — but far more indicators show the country to be performing just fine.

    Though gross domestic product shrank for two consecutive quarters, inflation is at four-decade highs, and Americans' economic sentiments near record lows, it would be a mistake to ignore several other signs of resilience in the US economy.

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