Recessions are generally defined as two consecutive quarters of negative economic growth, as measured by the seasonal adjusted quarter-on-quarter figures for real GDP.
That said, I expect the media to find a new definition very soon, that will be anything but what we are in.
That said, I expect the media to find a new definition very soon, that will be anything but what we are in.
The Left were calling Recession when Bush had GDP that was still positive but dropped from the previous month (example 2.8% to say 2.1%). You're right, they'll spin it.