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A comment on US Gross Domestic Product, Second Quarter 2022 (Advance Estimate). Parent comment

Re:US Gross Domestic Product, Second Quarter 2022 (Advance E... by gorwell on Thursday July 28, 2022 @11:15AM (#32265454)
Also from Wikipedia: While national definitions vary, two consecutive quarters of decline in a country's real gross domestic product is commonly used as a practical definition of a recession.

From the Oxford dictionary (recession): a period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.

It's only now that we're seeing all this slimy lawyering about the definition of recession. "Well acksually, technically..."

[ Parent | on HN ]
Re:US Gross Domestic Product, Second Quarter 2022 (Advance E... by ModernMech on Thursday July 28, 2022 @11:50AM (#32265991)
We can accept that lots of people believe 2 consecutive quarters of GDB decline define a recession, while also admitting that the group that officially defines a recession in the US hasn't done any sort of Orwellian redefinition at all.
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