logo
  

Q2 Decline In U.S. GDP Unrevised At 0.6%

The Commerce Department released its third estimate of U.S. economy activity in the second quarter on Thursday, showing the decrease in gross domestic product was unrevised from the previous estimate.

The report said real GDP fell by 0.6 percent in the second quarter, unchanged from the drop reported last month and in line with economist estimates.

The dip in GDP in the second quarter follows a 1.6 percent slump in the first quarter, with the two consecutive decreases signaling the U.S. economy is in a technical recession.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
IBSA Pharma Inc. is recalling 27 lots of TIROSINT-SOL (levothyroxine sodium) Oral Solution to the consumer level due to subpotency, the U.S. Food and Drug Administration said. TIROSINT-SOL is indicated for Hypothyroidism and Pituitary Thyrotropin (Thyroid-Stimulating Hormone, TSH) Suppression. Meanwhile, the recall does not apply to TIROSINT (levothyroxine sodium) capsules. The U.S. Food and Drug Administration approved GlaxoSmithKline LLC's Jesduvroq tablets (daprodustat) for anemia caused by chronic kidney disease or CKD for adults who have been receiving dialysis for at least four months. It is the first oral treatment for anemia, i.e., decreased number of red blood cells, in the given indication that has received FDA approval. German banking major Deutsche Bank AG reported Thursday a significantly higher profit in its fourth quarter and fiscal 2022, mainly reflecting a tax benefit in the U.S, despite weakness in Investment Bank and asset management revenues. The company said it recorded its highest annual profit, both before and after tax, since 2007. However, Deutsche Bank shares were losing around 4 percent...
Follow RTT