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We had a recession, as per its definition. Then politics happen and didn't want to name things as they are.
by jokethrowaway 3y ago
We had a recession, as per its definition.
Then politics happen and didn't want to name things as they are.
- fnordpiglet 3y agoWhat is the definition of a recession you’re operating under? The typical definition is two consecutive quarters of negative gdp growth. We’ve not seen that since 4q19 and 1q20, then not since the “Great Recession.” https://www.statista.com/statistics/188185/percent-change-from-preceding-period-in-real-gdp-in-the-us/ https://www.statista.com/statistics/188185/percent-change-fr...
- eis 3y agoQ1 and Q2 of 2022 were negative growth. The past 4 quarters were not and Q2 of 2022 was just barely. So technically there was a brief recession in H1 of 2022. Right now there is no clear sign of a recession as per definition. I think recessions are also widely misunderstood as being a binary thing. Like going from "everything is A-OK" to "OMG it's all going to shite". There can be a recession which people barely feel. It's not like an event horizon from which there is no turning back.
- qbasic_forever 3y agoThere's also been a ton of quietly revising numbers down months later. I don't think GDP has revised down negative much yet, but stuff like unemployment and hiring numbers have been extremely volatile and sometimes revised to complete opposites (strong positive to strong negative numbers) months after the fact.