“The NBER has been the referee since 1920.”
I have been led to believe that a “recession” is defined as, “Two consecutive quarters of negative GDP.” Am I wrong?
“I have been led to believe that a “recession” is defined as, “Two consecutive quarters of negative GDP.” Am I wrong?”
Yes. That definition is “pop-economics”. Somewhere up the thread I posted a link to the NBER website and their FAQ regarding their definition of recession.