Another drop in the U.S. economy has stoked fears of a new recession.

Economic production declined for a second consecutive quarter, increasing the possibility that the United States is heading or has already entered a recession.

The Commerce Department stated Thursday that GDP, adjusted for inflation, decreased 0.2 percent in the second quarter.

 This was the second consecutive quarterly loss, with the first dropping by 0.4%. 

 In the next months, government statisticians will adjust the figures for both periods.

There was a lot of discussion in Washington about whether or not a recession had started and if so, whether or not Vice President Biden was to blame.

However, despite economists' consensus that we are not in a recession, the likelihood of one is increasing.

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