Recession?

Posted by admin
recession
Justin asked:


Are we in a recession? If I remember correctly from my college economics class there is a precise definition to a recession. Something like multiple quarters without growth.

It seems to me this should be a simple answer. There was either growth for the required time or there was not. Why are some people saying that we are in a recession and some are saying that we are not?

Does anyone know what the definition of a recession is and have the numbers to back it either way?

Gina

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    • This entry was posted on Tuesday, June 9th, 2009 at 5:09 am and is filed under Finance. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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    No Responses to “Recession?”

    1. Kiran C Says:
      June 11th, 2009 at 12:56 am

      The common answer is 2 quarters of negative growth. The offical group that declares if we are in a recession does not use that standard but their criteria is similar. This board usually declares a recession after it is over.

      Even if you do not know if you are in recession, it can feel like you are in recession.

    2. allies Says:
      June 12th, 2009 at 6:15 pm

      I have economics class right now. Yes, the US is in a recession. It’s when there have been two bad quarters in a row and we certainly have that.

      The media and people in politics say we aren’t because they don’t want to scare the public.

    3. george w Says:
      June 13th, 2009 at 12:13 pm

      We are in a consumer led recession so the definition of a recession may not look real at this point.

    4. littlebear1776 Says:
      June 14th, 2009 at 7:22 pm

      allies needs to get a refund on his econ class. the feds have just come out with last quarters growth numbers. the first quarter of this year we had 0.6% growth, and that is NOT the revised number, which will come out next week ,and will be closer to 1% growth. therefore we are NOT in a recession. but keep hoping, allies, maybe it will start this quarter