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Q1 and Q2 of 2020 had negative real GDP, so yes, 2020 was a recession. When they say back to back quarters of negative GDP does not mean a recession, what they
by autokad 4y ago
Q1 and Q2 of 2020 had negative real GDP, so yes, 2020 was a recession. When they say back to back quarters of negative GDP does not mean a recession, what they really mean is not having back to back quarters of GDP does not mean its not a recession. as in 2001 when GDP shrank in Q1 and Q3 but not Q2.
Almost every situation in history of 1 0 1 is considered a recession but 2011, but that one wasn't considered one because Obama was president. however, every time that I know of, back to back shrinking quarters has always been a recession, as far as I know.
And it matches up, we all know its a recession now (except those who want to deny its one because of their political view). its a recession, you only look more wrong trying to deny the obvious.