July 03, 2022 - 6:00pm | By Kyle Cornell
(Atlanta, GA) -- The U.S. may be in a recession.
That's according to a measure of economic growth used by the Atlanta Federal Reserve. The tool called GDPNow says the nation's gross domestic product could fall by one-percent in the quarter that just ended. That would meet the technical meaning of a recession when it's combined with GDP falling by one-point-six percent in the first quarter.
Fears of a recession are growing due to this week's GDP number, the declining stock market, and rising interest rates.