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To: Elmer Phud who wrote (256571)	10/9/2008 11:12:25 AM
From: titon1	Read Replies (1) \| Respond to of 275872

It's 2 consecutive quarters of negative growth. Q3 may be the first hahaha This is too funny, you must be working for the government! In Communism you're told that production of whatever product increased YoY. It didn't matter you couldn't find it on the market. Similar to Orwell's 1984 sugar episode.

To: Elmer Phud who wrote (256571)	10/9/2008 2:29:48 PM
From: Windsock	Respond to of 275872

The 2 consecutive quarters definition is sometimes used to determine a recession but it is not the official definition. Officially, a recession start is determined by an NBER decision. The following describes their procedure: nber.org In choosing the dates of business-cycle turning points, the committee follows standard procedures to assure continuity in the chronology. Because a recession influences the economy broadly and is not confined to one sector, the committee emphasizes economy-wide measures of economic activity. The committee views real GDP as the single best measure of aggregate economic activity. In determining whether a recession has occurred and in identifying the approximate dates of the peak and the trough, the committee therefore places considerable weight on the estimates of real GDP issued by the Bureau of Economic Analysis of the U.S. Department of Commerce. The traditional role of the committee is to maintain a monthly chronology, however, and the BEA's real GDP estimates are only available quarterly. For this reason, the committee refers to a variety of monthly indicators to determine the months of peaks and troughs.