Economy

U.S. economy probably barely grew last quarter and may have contracted

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Shipping containers are seen at a terminal inside the Port of Oakland as independent truck driver continue protesting against California’s new law known as AB5, in Oakland, California, July 21, 2022.

Carlos Barria | Reuters

Economists are forecasting the economy barely grew in the second quarter, and some expect that it actually contracted.

The estimates show the economy may have grown by several tenths of a percent. Goldman Sachs expects a 1% increase, while Moody’s Analytics sees a 1% decline. The GDP report will be released at 8:30 a.m. ET Thursday.

The sluggish growth forecasts follow the 1.6% decline in the first quarter. But there are plenty of forecasts for a shrinking economy,…



Source cnbc.com

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