I find it somewhat ignorant of you to carry on the way you do. You seem to willingly avoid the way recessions are called and what contributes to a recession call.
Definition [of a Recession]
In a 1975 New York Times article, economic statistician Julius Shiskin suggested several rules of thumb for defining a recession, one of which was "two down consecutive quarters of GDP". [3] In time, the other rules of thumb were forgotten. Some economists prefer a definition of a 1.5% rise in unemployment within 12 months. [4]
In the United States, the Business Cycle Dating Committee of the National Bureau of Economic Research (NBER) is generally seen as the authority for dating US recessions. The NBER defines an economic recession as: "a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale- retail sales." [5] Almost universally, academics, economists, policy makers, and businesses defer to the determination by the NBER for the precise dating of a recession's onset and end.
In the United Kingdom, recessions are generally defined as two successive quarters of negative growth, [6] [7]
en.wikipedia.org |
