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1. • • The NBER says it looks at several measures of the economy in concluding if a recession has occurred. There is, however, a “rule of thumb” definition of a recession. The “rule” is that a recession occurs when a broad-based measure of the economy — called “gross domestic product (GDP)” — declines for two consecutive quarters, that is, six months.
     cals.ncsu.edu/news/you-decide-are-we-already-in-a-recession/

     You Decide: Are We Already in a Recession? - College of ...

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   Is a recession a 'rule of thumb'?

   • Using the informal “rule of thumb” definition, a recession is two consecutive quarters of economic contraction (negative real GDP growth). However, that is not the definition the NBER Business Cycle Dating Committee uses.

   All About the Business Cycle: Where Do Recessions Come From?

   www.stlouisfed.org/publications/page-one-economics/2023/03/01/all-about-the-business-cycle-where-do-recessions-come-from

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   Is the US in a recession?

   • A common rule of thumb for identifying recessions is experiencing two consecutive quarters of negative gross domestic product (GDP) growth. The release of U.S. GDP data for the second quarter of 2022 showed the second consecutive negative GDP growth rate, leading many to believe that the country is now in a recession.

   Do Key Economic Indicators Point to a U.S. Recession?

   www.stlouisfed.org/on-the-economy/2022/sep/us-recession-what-key-economic-indicators-say

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   When does a recession occur?

   • A longstanding rule of thumb holds that a recession occurs when the economy shrinks for two consecutive quarters. On Thursday, July 28 the government will report gross domestic product, the broadest measure of the nation’s output of goods and services, for the April-June quarter.

   Is the U.S. economy in a recession? Here’s how to tell ... - AP News

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   What economic indicators indicate a recession?

   • What Key Economic Indicators Say A common rule of thumb for identifying recessions is experiencing two consecutive quarters of negative gross domestic product (GDP) growth.

   Do Key Economic Indicators Point to a U.S. Recession?

   www.stlouisfed.org/on-the-economy/2022/sep/us-recession-what-key-economic-indicators-say

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   Is a recession inevitable?

   • But most of them nevertheless think an economic downturn is inevitable. Late last month, the government updated its estimate of the economy’s performance in the April-June quarter and confirmed its earlier estimate that the economy had shrunk for two straight quarters. Six months of contraction is a long-held informal definition of a recession.

   EXPLAINER: How do we know when a recession has begun?

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   How do you know if a recession is a serious problem?

   • In 1974, economist Julius Shiskin came up with a few rules of thumb to define a recession: The most popular was two consecutive quarters of declining GDP. A healthy economy expands over time, so two quarters in a row of contracting output suggests there are serious underlying problems, according to Shiskin.

   Recession Definition: What Is A Recession? – Forbes Advisor

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3. www.investopedia.com › terms › rRecession: Definition, Causes, Examples and FAQs - Investopedia

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   Apr 16, 2024 · A recession is a significant, widespread, and prolonged downturn in economic activity. A common rule of thumb is that two consecutive quarters of negative gross domestic product (GDP)...

4. apnews.com › article › inflation-covid-healthEXPLAINER: How do we know when a recession has begun?

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   Sep 21, 2022 · DO TWO STRAIGHT QUARTERS OF ECONOMIC CONTRACTION EQUAL A RECESSION? That’s a common rule of thumb, but it isn’t an official definition. Still, in the past, it has been a useful measure.

5. www.forbes.com › advisor › investingRecession Definition: What Is A Recession? – Forbes Advisor

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   Feb 13, 2024 · A recession is a significant decline in economic activity that lasts for months or even years. Experts declare a recession when a nation’s economy experiences negative gross domestic product ...

6. www.stlouisfed.org › on-the-economy › 2022Do Key Economic Indicators Point to a U.S. Recession? | St ...

   www.stlouisfed.org › on-the-economy › 2022

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   Sep 26, 2022 · A common rule of thumb for identifying recessions is experiencing two consecutive quarters of negative gross domestic product (GDP) growth. The release of U.S. GDP data for the second quarter of 2022 showed the second consecutive negative GDP growth rate, leading many to believe that the country is now in a recession.

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7. apnews.com › article › inflation-covid-health-grossIs the U.S. economy in a recession? Here’s how to tell. | AP News

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   Jul 28, 2022 · A longstanding rule of thumb holds that a recession occurs when the economy shrinks for two consecutive quarters. On Thursday, July 28 the government will report gross domestic product, the broadest measure of the nation’s output of goods and services, for the April-June quarter.

8. news.sky.com › story › what-is-a-recession-whatWhat is a recession, what causes it and what happens during ...

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   Feb 15, 2024 · The rule of thumb is that when the economy shrinks for six months in a row, it's in a recession. But what happens during a recession, and how is it likely to affect you?

9. www.stlouisfed.org › publications › page-oneAll About the Business Cycle: Where Do Recessions Come From?

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   Mar 1, 2023 · Using the informal “rule of thumb” definition, a recession is two consecutive quarters of economic contraction (negative real GDP growth). However, that is not the definition the NBER Business Cycle Dating Committee uses.