Current Events — HabitableZone

Current Events » in reply to re: First quarter growth revised upward again

Good point

You're talking about the National Bureau of Economic Research, and they analyze recessions long after the fact based on multiple factors.

From this page:

The NBER does not define a recession in terms of two consecutive quarters of decline in real GDP. Rather, a recession is a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.


Based on this, it's entirely possible, even likely, that some portion of the current period will eventually be defined as a recession. Unfortunately, by that time the recession is usually over.

For example, this pronouncement came a little late to save Bush the First in 1992.

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