What is a recession? While some maintain that two consecutive quarters of falling real GDP constitute a recession, that is neither the official definition nor the way economists evaluate the state of the business cycle. Instead, both official determinations of recessions and economists’ assessment of economic activity are based on a holistic look at the data—including the labor market, consumer and business spending, industrial production, and incomes. Based on these data, it is unlikely that the decline in GDP in the first quarter of this year—even if followed by another GDP decline in the second quarter—indicates a recession.
You know shit is about to go bad when the democrats/White House start implying that the definition of a recession is “different and incorrect” so therefore you shouldn’t believe it lmao.
Just so everyone knows. Upcoming GDP numbers. DO NOT INDICATE A RECESSION as per the Whitehouse.


