Oh sure, yesterday’s shrinking GDP number met the common definition of a recession - two consecutive quarters of negative growth. But as to whether that’s actually true..
July 28 Bullock_one: The answer sort of depends on who you ask.
Hallam Bullock, the editor of Insider’s 10 Things newsletter explains:
July 28 Bullock_two: The US economy is not officially in a recession until the national bureau of economic research say so, and their criteria is far more. They do look at G D P but also at employment figures, personal income, industrial production, and a range of other factors. And so far they don't believe these indicators yet warrant declaring a recession.