3 Recession-Resistant Dividend Stocks to Buy Now
On Thursday, the U.S. Bureau of Economic Analysis reported that real gross domestic product (GDP) decreased at an annual rate of 0.9% for the second quarter of 2022 -- marking the second consecutive quarter of declining real GDP. Real GDP is a more useful measure than GDP because it factors in inflation. A declining real GDP number indicates that inflation is outpacing the economy's ability to grow. Similarly, real GDP declined in the first half of 2020 due to the COVID-19 pandemic-induced recession.
If you have mounting recession fears or are concerned about rising interest rates, you aren't alone. However, selling everything isn't a wise long-term option. Instead, it could be a good idea to turn your attention toward top companies that have endured past economic downturns. Procter & Gamble (NYSE: PG), Essential Utilities (NYSE: WTRG), and Baker Hughes (NASDAQ: BKR) are three dividend stocks that can outlast a prolonged recession. Here's why each is a great buy now.
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Source Fool.com