[timerol]

Being in a recession is a weird thing to detect. From Wikipedia:

> In the United States, it is defined 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". In the United Kingdom, it is defined as a negative economic growth for two consecutive quarters.

So it's not a recession unless it lasts for a while. So when the markets suddenly go down, it's not known if a recession is happening, until it's been ongoing. Since we've already been in lockdown for more of Q2 than Q1, its reasonable to expect that we're in a recession. But it's not official yet.