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Re:US Gross Domestic Product, Second Quarter 2022 (Advance E... by 8note on Thursday July 28, 2022 @09:23PM (#32272061)
I'm not clear that "in a recession" is a particularly useful state to anyone.

Even with a complex formula, you're still dropping the useful details.

Even with a predictable complicated formula, you still have the question to debate: "does it matter?"

Re:US Gross Domestic Product, Second Quarter 2022 (Advance E... by smsm42 on Friday July 29, 2022 @01:05AM (#32273348)
People like certainty more than uncertainty, even if it's a bad certainty. That's why the have all these classifiers. It's easier to handle two situations "we're in a recession, we're not in a recession" than track about 50 economic parameters that are interwoven in a thousand complex ways. If you are a professional economist, you probably need to do the latter, but if you are a regular person, you probably have neither time nor capability to do it.