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While the media has traditionally referred to a recession as 2 quarters of negative GDP the White House and NBER disagree that the recent 2 quarter decline is consistent with a recession. In this video we explore the technical definition of a recession and the primary indicators that the NBER uses to define a recession. We also explore why this feels like a recession even if it might not technically be a recession.

Useful links:

1) Business Cycle Dating, NBER

2) How do economists determine recessions? 

3) Here’s What the Six Key Official Indicators of US Recession Show

More By This Author:

Three Things I Think I Think – What Is A Recession?
Three Things I Think I Think – Some Things Never Die
The Risk of Deflation is now Greater than the Risk of Prolonged High Inflation