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Technology Stocks : JDS Uniphase (JDSU)
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To: kvkkc1 who wrote (15829)1/4/2001 2:57:09 PM
From: SJS  Read Replies (1) of 24042
 
So......an economist on CNBC, who you don't have generic respect for, but do in this specific case, said that, universally, negative growth isn't a definition of a recession?

I agree. There is NO UNIVERSAL agreement (meaning all). There is a majority agreement among economists that a recession is 2 quarters of negative growth.

Here's a copy of an 1998 article, but the web is full of stuff you can find:
________________________________

GDP Shrank Two Quarters in a Row
Japan’s Lousy Fiscal Year
BUSINESS NEWS

Quarterly results tipped growth for the entire fiscal year into negative territory for the first time in more than two decades.

By Martin Fackler
The Associated Press
T O K Y O, June 12 — Japan announced today that its gross domestic product shrank for a second consecutive quarter—the standard economists use to confirm that a nation's economy has sunk into recession.
The Economic Planning Agency said Japan's real gross domestic product between January and March of this year fell 1.3 percent from the previous quarter. Last quarter, the economy shrank 0.2 percent.
Two back-to-back quarters of negative growth is generally accepted as the definition of a recession.

abcnews.go.com

Here's another:

emptytomb.org

The gross national product (GNP) is a single, widely-known statistic which is also important for analyzing recessions. "A recession generally is defined as at least two consecutive declines in the GNP, the nation¹s total output of goods and services."4

Steve
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