U.S. GDP falls 1 percent in second quarter as recession eases

Today's GDP figures for the second quarter provide more evidence that the recession is easing.

U.S. GDP fell 1.0 percent from April to June, matching the initial second quarter estimate, the U.S. Commerce Department announced Thursday.

A Bloomberg News survey had expected second quarter GDP (revised) to decline 1.5 percent. The economy contracted an alarming 6.4 percent in Q1. In 2008, the world's largest economy grew a scant 1.1 percent, well below capacity.