101 sats \ 1 reply \ @nerd2ninja 29 Jul 2022 \ parent \ on: Recession - Wikipedia bitcoin
Let's just save the sources rather than save the Wikipedia article:
"Although the definition of a recession varies between different countries and scholars, two consecutive quarters of decline in a country's real gross domestic product is commonly used as a practical definition of a recession.[3][4][5]"
SAVE THE SOURCES
Back to Basics: What Is a Recession? https://www.elibrary.imf.org/view/journals/022/0046/001/article-A021-en.xml
Reserve Bank of Australia - Recession https://www.rba.gov.au/education/resources/explainers/recession.html https://archive.ph/fcJXw
In the United States, a recession is defined by the National Bureau of Economic Research (NBER) as 'a significant decline in economic activity spread across the market, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales'."
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101 sats \ 0 replies \ @nerd2ninja 29 Jul 2022
To be sort of fair to the NBER here, I think their definition is accurate for determining an inflationary depression, (though not a recession as recession is an early indicator).
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