United States Economy SHRINKS In The First Part Of 2022

The United States shrank at a 1.5% annual rate during the first quarter of 2022, according to a Thursday report from the Bureau of Economic Analysis.

The dismal results — which represented the most severe drop since Gross Domestic Product (GDP) plummeted by 31.2% in the second quarter of 2020 — were worse than the 1.3% Dow Jones estimate and a write-down from the originally reported 1.4%, according to CNBC.