• Real gross domestic product (GDP) is confirmed to have shrunk at an annualized rate of 0.6 percent in the second quarter of 2022.
• New data from the agency confirms the figure, which had already been revised to 0.6 percent from an earlier estimate of 0.9 percent.
• The Biden administration has leaned upon the lack of an official declaration while spurning criticism about the outcomes of its economic agenda.

Tagged: #Bidenflation