The U.S. economy has officially entered into a recession after the economy in the second quarter of 2022 contracted 0.9%, according to the Bureau of Economic Analysis reported Thursday.
The economy contracted for the second straight quarter after a 1.6% decline in the first three months of this year.
The actual data also missed expectations of 0.4% growth.
A second consecutive negative GDP meets a basic definition of recession.
Maybank Securities (Thailand) (MST) stated earlier that a recession would be a slightly more disturbing factor to the stock market. However, MST believed that with the market correction, it is a good opportunity to gradually accumulate good stocks.