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Has a technical recession ever not resulted in an actual recession as declared by NBER?
by safog 4y ago
Has a technical recession ever not resulted in an actual recession as declared by NBER?
- ConceitedCode 4y agoGreat question! Not that I'm aware of (EDIT: sseagull provided a good example in 1947). To be fair, I can't think of any time where we've seen 2 quarters of negative GDP growth while maintaining "full" employment and wage growth. This is an unusual recession if it is a recession.
- pclmulqdq 4y agoThis is a recession. During a recession, the economy tends to lose 10% of its employment or more. Usually this is from loss of jobs. This time, inflation has cut everyone's pay by between 10 and 30% depending on who you ask. The CPI says 10%, but a lot of necessities, like energy and food, are up a lot more.
- deleted 4y ago[deleted]
- yieldcrv 4y agothey're all unusual at the time there are too many variables for a circumstance that doesn't happen very often for it to ever be the same
- sseagull 4y agoYes. In 1947. "And it’s rare for there to be two consecutive quarters of negative GDP without a recession. In fact, George Washington University professor Tara Sinclair said the only time on record appears to have been 1947." From: https://www.washingtonpost.com/politics/2022/07/25/biden-administration-recession-pushback/ https://www.washingtonpost.com/politics/2022/07/25/biden-adm...