GDP fell 0.9% in the second quarter, the second straight decline and a strong recession signal

The U.S. economy contracted for the second straight quarter from April to June, hitting a widely accepted rule of thumb for a recession, the Bureau of Economic Analysis reported Thursday.
Pressured by surging inflation, rising interest rates and intensifying supply chain pressures, gross domestic product fell 0.9% for the period, following a 1.6% decline in the first quarter. The Dow Jones estimate was for a gain of 0.3%.

Officially, the National Bureau of Economic Research declares recessions and expansions, and likely won’t make a judgment on the period in question for months if not longer.

But a second straight negative GDP reading meets a long-held basic view of recession, despite the unusual circumstances of the decline and regardless of what the NBER decides. GDP is the broadest measure of the economy and encompasses the total level of goods and services produced during the period.

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#ONT/USD Take-Profit target 1 ✅
Profit: 314.4105% 📈
Period: 3 Days 12 Hours 14 Minutes ⏰

FTX Futures
#BCH/USD Take-Profit target 3 ✅
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Period: 25 Days 10 Hours 35 Minutes ⏰

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Period: 1 Months 7 Days 7 Hours 41 Minutes ⏰

FTX Futures
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Period: 6 Days 3 Hours 56 Minutes ⏰

FTX Futures
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Profit: 500.0% 📈
Period: 4 Days 9 Hours 40 Minutes ⏰

ByBit USDT
#ETC/USDT Take-Profit target 1 ✅
Profit: 60.2837% 📈
Period: 6 Minutes ⏰

FTX Futures
#ONT/USD Take-Profit target 2 ✅
Profit: 401.7467% 📈
Period: 3 Days 12 Hours 53 Minutes ⏰

FTX Futures
#LRC/USD Take-Profit target 1 ✅
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Period: 4 Days 23 Hours 29 Minutes ⏰

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#RVN/USDT Take-Profit target 2 ✅
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Period: 1 Months 1 Days 4 Hours 2 Minutes ⏰

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#CHZ/USDT Take-Profit target 6 ✅
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Period: 5 Days 3 Hours 56 Minutes ⏰

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#CHZ/USDT Take-Profit target 7 ✅
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Period: 5 Days 4 Hours 57 Minutes ⏰

FTX Futures
#TRX/USD Take-Profit target 1 ✅
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Period: 3 Days 14 Hours 31 Minutes ⏰

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Period: 3 Days 13 Hours 57 Minutes ⏰

Binance Futures, ByBit USDT
#TRX/USDT Take-Profit target 1 ✅
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Period: 3 Days 13 Hours 46 Minutes ⏰

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Period: 5 Days 5 Hours 16 Minutes ⏰

Binance Futures, ByBit USDT
#BAND/USDT Take-Profit target 2 ✅
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Period: 16 Days 7 Hours 27 Minutes ⏰

Binance Futures, ByBit USDT
#BAND/USDT Take-Profit target 3 ✅
Profit: 292.7066% 📈
Period: 16 Days 7 Hours 31 Minutes ⏰