Episode 288: What's a Recession?
Words & Numbers
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What Does This Mean Recession?
The shorthand version of whether you're in a recession is two quarters in a row of negative growth. In total, we're producing less goods and services than we produced the quarter before. That fulfills the rule of thumb estimate that we're in recession. But really it's not GDP you should look at, but real GDP, that is GDP adjusted for inflation.
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