Blog

Get Market News

Get weekly email updates on market factors like supply, demand, and regulatory affairs. Subscribe now

Get Started with ENGIE

ENGIE Resources is ready to analyze your historical energy usage data and present appropriate options. Get started now

Become a Broker or Consultant

Complete our Brokers & Consultants Inquiry Form. Learn more

GDP Dips Beyond Forecasts

May 31, 2022

Stressed couple at table

The US economy contracted by 1.5% on an annual basis during the first quarter. The latest release by the Bureau of Economic Analysis exceeded the 1.3% dip expected by economists. It is the first quarterly drop since the second quarter of 2020. Despite the reading, consumer spending remains strong and the AP reports that the economy has probably regained growth in the current quarter.