I am always amazed how much arrogance the anonymity of the internet brings forward.
Yes, Recession may start at any given moment.
Just because most definitions (yap there’s more then one) attribute this term to a 3 quarter duration of receding BIP - this duration certainly may start at any given moment.
Certainly you can only speculate on recession by the time it beginns but looking at it in retroperspective you could very well say after the quarterly results from Q2 07 the recession started.
It doesn’t make much sense to say we had 3 Q of falling BIP and now we come into recession because obviously the prolonged period of falling BIP started with the very first day the BIP fell and not with the first day of Q3.
And what was it you wanted to teach me on recessions ?
Got it ?
The fact remains that you can’t have a recession in only three months.