By SHELLY A. WIEMANN CFP®
Founder, Wiemann Wealth Strategies, LLC
Financial Advisor, Raymond James Financial Services
The latest GDP figures show the worst single-quarter U.S. economic contraction in over 70 years.
The U.S. economy contracted 9.5% through the second quarter, the worst single-quarter decline in gross domestic product (GDP) since the Commerce Department started tracking it in 1947.
It was expected the report would show a dip, but it’s important to recognize what that dip represents. It does not indicate the economy’s current trajectory, just the most stringent period