If they don't say it's a recession, it isn't one.
------
What is consistent is that the economists there declare recessions way too late in practice. I think they declared a recession dated in 2007 in the year 2009, when we were already recovering.
So what we have are a bunch of internet bloggers who try to call a recession before the experts. But all that happens in practice is that the bloggers call a recession every 3 months since 2010 hoping that they're correct today.
-----
If we are in a recession today, we will know for sure maybe next year. That's just how it works on this issue, and it's premature to call it any sooner.
Nope, that was never the official definition, that was a convenient approximate rule of thumb.
https://www.statista.com/statistics/188185/percent-change-fr...
“They” haven’t changed any definitions, I don’t think there’s even a “they,” and there was not a recession by any definition of recession.
The fed tried hard to induce one because of wage growth and inflation, but failed to do so. Companies in tech specifically fired a ton of people in preparation, but that doesn’t make a recession - just bad business judgement. Tech leadership has never been super sharp to begin with.
Something about two quarters consecutive quarters of negative gdp growth was the original definition, it happened, and they said recession means something else.