(CNN) The news that the US economy unexpectedly shrank over the first quarter of the year is an absolute body blow to Democrats already reeling amid growing economic concerns ahead of the 2022 midterm election.
The country's gross domestic product fell at an annualized rate of 1.4% between January and March -- a stunning reversal from the 6.9% GDP growth that the US recorded in the final quarter of 2021. (The GDP is seen as a broad guide to the overall health of a nation's economy.)
And in a decidedly ill omen, the GDP shrinkage was the worst performance of the measure since the economy went into recession amid the shutting down of the country in the spring of 2020.
Addressing recession fears on Thursday, President Joe Biden said: "Well, I'm not concerned about recession. I mean, you're always concerned about recession, but the GDP, you know, fell to 1.4%."
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