US economy shrinks amid fears of recession

by News Update

ABC News business reporter Alexis Christoforous and politics reporter Brittany Shepherd discuss the latest on the U.S. economy and fears that the nation is headed for a recession.

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38 comments

Bab Kubwa July 30, 2022 - 12:03 AM

A lot if superpowers in the past have destroyed themselves in their attempts to destroy Russia.

Keith B July 30, 2022 - 12:10 AM

We're not in a recession. We changed the definition.

Jay Cee July 30, 2022 - 12:13 AM

5 pieces in the same day pretty much about the same thing on any topic can stoke fear.

Russians are murderers July 30, 2022 - 12:16 AM

Stocks are going on sale!!! Yesssss!!!!!! 🥳🥳🥳

♿NPC-TardLivesMatter✊ July 30, 2022 - 12:20 AM

“Inflation is OUR strength” -Biden 😂

♿NPC-TardLivesMatter✊ July 30, 2022 - 12:20 AM

“Turning on the economy is as easy as riding a bike” -Biden🚴 Joe falls off bike 😂

NPC-KarenPfizer July 30, 2022 - 12:26 AM

BIDEN BLAMES CORNPOP 😂

EAST COAST WATCH July 30, 2022 - 12:40 AM

This is not a recession, it’s just transitory of reduced economic activity to a DEPRESSION !!!

Mark Mcalpine July 30, 2022 - 12:49 AM

This is bidens and liberals America. To "build back better" you must tear down what was

Mark Mcalpine July 30, 2022 - 12:51 AM

Even the economy can't identify what it is just like the modern women. #whatisawomen

MikeTheAsinine July 30, 2022 - 1:06 AM

Words this administration has changed the definitions of or can't define at all:
1. Vaccine
2. Woman
3. Recession

Michel Andres Beck July 30, 2022 - 1:14 AM

The fact that we’re “not yet” in a recession is actually troubling, how bad will it be when we are in?

Michel Andres Beck July 30, 2022 - 1:15 AM

The music has stopped

Dylan Murphy July 30, 2022 - 1:16 AM

who would listen to washington when a dementia patients runs the country from his basement, while selling crack to his son with tax payer dollars

Michel Andres Beck July 30, 2022 - 1:17 AM

The reason why employment is strong is because this crisis is not demand based but supply based.

Kadarius Williams July 30, 2022 - 1:34 AM

You guys are fools and just giving them what they want you people that are panicking are putting us in a recession no one else don't you get it the government want you people this way wake up and think with your heads not with your emotions

Brad Dillon July 30, 2022 - 2:02 AM

This is a recession.

Lester Crest July 30, 2022 - 2:32 AM

we are IN a recession

RealAqua July 30, 2022 - 2:51 AM

FJB

Trust Me July 30, 2022 - 3:01 AM

We dislike Brandon

john smith July 30, 2022 - 3:02 AM

Just rename it then its not a think kind of like the definition of a woman.

AJinLA July 30, 2022 - 3:03 AM

I dont know whats so hard to understand, we’re not in a recession, Biden and the government says we’re not

bkilpatr100 July 30, 2022 - 3:11 AM

Dictionary of Finance and Investment Terms, (BARRON'S FINANCE AND INVESTMENT HANDBOOK): RECESSION – "Downturn in economic activity, defined by many economists as at least two consecutive quarters of decline in a country's GROSS DOMESTIC PRODUCT."

Antonio R July 30, 2022 - 3:43 AM

Hey Fakes News we are in a recession. There is no fear of one. It’s happening now. Stop spreading lies.

Ally235G July 30, 2022 - 3:47 AM

Ive always been financially comfortable but right now Ive never felt this poor.

Lesco Brandon July 30, 2022 - 4:45 AM

In a 1974 The New York Times article, Commissioner of the Bureau of Labor Statistics Julius Shiskin suggested that a rough translation of the bureau's qualitative definition of a recession into a quantitative one that almost anyone can use might run like this:
* In terms of duration — declines in real gross national product (GNP) for two consecutive quarters; a decline in industrial production over a six-month period.
* In terms of depth — A 1.5 per cent decline in real GNP; a 15 per cent decline in non-agricultural employment; a two-point rise in unemployment to a level of at least 6 percent.
* In terms of diffusion — A decline in non-agricultural employment in more than 75 per cent of industries, as measured over six-month spans, for six months or longer

alooga555 July 30, 2022 - 5:03 AM

Biden = New definition of full-blown dementia

Nevertobebad July 30, 2022 - 5:21 AM

Fears?! We are jn it!!!!

Coco puff70 July 30, 2022 - 5:56 AM

Changing the definition of a recession by the BRANDON means WERE IN A RECESSION PUTTING LIPSTICK ON A PIG DOES NOT CHANGE IT FROM BEING A PIG. Papa Powell just anounced couple of months ago that there going to rollout there FED COIN (aka MARK OF THE BEAST COIN) next year

TOTALLY CENTRALIZED. Buy your Physical Gold, Silver NOW in that order, cause next yrs going to be a bumpy ride AUDIT THE FED

Andr P July 30, 2022 - 7:55 AM

Let’s go Brandon!

Hona Wikeepa July 30, 2022 - 8:55 AM

Biden's planned Recession has arrived and nobody can deny it.

DynamiteDiscoDannyDevastation July 30, 2022 - 9:44 AM

ABC News is just another mouthpiece for the Biden Regime. Why go along with this obvious BS from the White House? What happened to journalism being objective?

John Doe July 30, 2022 - 12:44 PM

We're in a recession

426firefly July 30, 2022 - 6:01 PM

if China didnot call your economy recession, you are not recession, don't define your status base on what's your government say.

Drew July 30, 2022 - 10:46 PM

Crazy

Debbie Frampton July 31, 2022 - 4:34 AM

Should have been buying and stocking up on food when the prices were low

Rose Petals July 31, 2022 - 5:10 AM

Duh! Consumer spending is high because everything cost more. Hello 👋

Nya P July 31, 2022 - 5:50 AM

In conclusion, we’re in a recession. The administration changed the definition of a recession so that they don’t have to say that we’re in a recession. Ridiculous.