Braking Down The News

If This Is a Recession, We Might Not Know for Months

Economy’s second-straight decline in output sparks debate—and the waiting game

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As the Federal Reserve continues to raise interest rates in its fight against the highest inflation in more than four decades, economic indicators flash signs of a slowdown and questions abound over what is a recession and whether the U.S. has entered one.

U.S. gross domestic product fell by an inflation and seasonally adjusted annual rate of 0.9% in the second quarter, the Commerce Department said Thursday. It was the economy’s second-consecutive quarterly contraction, which is one definition of recession, though not the one used by the official arbiter, the National Bureau of Economic Research.

 

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