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The "accepted definition of a recession"? Where are you getting this from? I understand that some government/finance organizations in specific countries might
by capableweb 4y ago
The "accepted definition of a recession"? Where are you getting this from?
I understand that some government/finance organizations in specific countries might have some sort of "definition" of the term recession, but in general parlance, "recession" is just when the economy is not doing well.
Some organizations do have indicators like "2 consecutive quarters of negative growth", but doesn't mean it's a universal "accepted definition".
- qeternity 4y agoWell it is pretty much the official definition. But no, recession does not mean the economy is not doing well, because economic health is not binary. What recession means is economic contraction, and usually people look for confirmation after one quarter of negative growth, hence the two quarter “rule”.