Are we heading toward a recession?

On Thursday's data release the US GDP reading came in pretty weak for Q1 2022, with a quarter-over-quarter slowdown of 1.4%. While that's bad, we're not in a recession yet as a technical recession is defined by two quarters in a row of negative growth rates. With that in mind we would need to see another sequential quarter of economic shrinkage as measured by GDP. Otherwise this ends up being a one off event.

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