That is the technical macroeconomic definition and is based on government numbers, which are unreliable propaganda statistics in my opinion. In a broader sense, there clearly is a economic slowdown, due to the bear market, real estate mess, Fed cutting rates like crazy, rising unemployment, falling earnings and reduced consumer discretionary spending dollars.
There's the actual definition and then there's your opinion. I'll stick with the actual definition.
"a broader sense, there clearly is a economic slowdown, due to the bear market, real estate mess, Fed cutting rates like crazy, rising unemployment, falling earnings and reduced consumer discretionary spending dollars."
Here in Texas and especially in Houston we have extremely low unemployment (3.9% in Houston) and the housing market is appreciating. I guess if you average in a state like Michigan that would bring us down, but were just fine in Texas.
When there are two quarters of negative GDP growth, the USA will be in a recession, until then the economy has simply slowed down.