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Sorry, but the widely accepted definition of a technical recession is typically identified by two consecutive quarters of negative growth in real gross domestic
by plugger 1y ago
Sorry, but the widely accepted definition of a technical recession is typically identified by two consecutive quarters of negative growth in real gross domestic product (GDP). Tuesday is the cut off date for the quarter and that will determine if the US is in technical recession.
- firesteelrain 1y agoYou're right that the textbook definition of a technical recession is two consecutive quarters of negative real GDP growth. That part’s clear. So technically, we can say “Q2 is over” on Tuesday, but we won’t be able to declare a recession (or not) until that data comes out. Unless you're inside the Fed or BEA models, we're all just speculating until then. The advance estimate drops on July 22 from the BEA. US is in a slight slowdown though