Screens display end-of-day trading results at the New York Stock Exchange on May 12, in New York. A longstanding rule of thumb holds that a recession occurs when the economy shrinks for two consecutive quarters. On Thursday, the government will report gross domestic product, the broadest measure of the nation’s output of goods and services, for the April-June quarter. Some economists forecast it will show the economy shrank — for the second quarter in a row. JOHN MINCHILLIO/AP
BY CHRISTOPHER RUGABER Associated Press WASHINGTON (AP) — By one common definition, the U.S. economy is on the cusp of a recession. Yet that definition…
