Earlier this year, we wrote about the potential for two recessions in two years.

Now, it’s unofficially official: we’re in an economic recession for the second time in two years.

At least, that’s according to government data published this week.

And this news comes from the Bureau of Economic Analysis’ latest report last week, which showed that U.S. Gross Domestic Product, or GDP growth, contracted during April, May, and June, marking the second straight quarterly decline so far this year.

While there’s no consensus on what constitutes the definition of a recession, last week’s data print is consistent with an economic downturn.

Indeed, history has shown that ten out of the past eleven two-quarter GDP contractions have been associated with a recession.

So, from a historical perspective, there’s a good chance that the first half slowdown could be a precursor to a recession in 2022.

Be sure to read our latest report, where we discuss:

· What it means to be in a recession

· Whether we’re in a recession now

· How a recession might affect your

· How to prepare for a recession

· What a recession means for your investments