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According to the general definition of a recession - two consecutive quarters of negative gross domestic product - the U.S. entered a recession in the summer of
by dpedu 4y ago
According to the general definition of a recession - two consecutive quarters of negative gross domestic product - the U.S. entered a recession in the summer of 2022.
- melling 4y agoAnd we left the recession in Q3? https://www.bea.gov/data/gdp/gross-domestic-product https://www.bea.gov/data/gdp/gross-domestic-product
- Izkata 4y agoProbably depends on whether it stays up or not. See here: https://fred.stlouisfed.org/series/A191RL1Q225SBEA https://fred.stlouisfed.org/series/A191RL1Q225SBEA 7 of the 12 recessions marked on the graph temporarily jumped up then dropped back down during the recession. A note though that the "2 quarters negative real GDP growth" has only ever been a rule of thumb that tends to fit (on that graph above, the dips below 0 outside of recessions only ever lasted one quarter). The official determination has always been made by NBER ( https://www.nber.org/ https://www.nber.org/ ), and how they determine it is more complicated (though AFAIK the details aren't public). I think it's too soon for them to make a determination on this one though, they make it while looking backwards, so these two quarters may yet become official which would maintain the pattern.
- dpedu 4y agoPerhaps, though this more of a response to "We aren’t in a recession yet" as this is an odd thing to say being just 1 quarter out.