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Effective Recession First In Japan?
For a lot of people, a recession is two consecutive quarters of negative GDP. This is called the technical definition in the mainstream and financial media. While this specific pattern can indicate a change in the business cycle, it’s really only one narrow case. Recessions are not just tied to GDP. In the US, the Economists who make the determination (the NBER) will tell you recessions aren’t always so straightforward. Everyone knew about the second half of the Great “Recession” because there wasn’t a data series, indication, or market price that wasn’t plummeting. The first half, though? It wasn’t ... (full story)