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by bogomipz
1437 days ago
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>"AFAIK, we have been in a recession since 2008. IMO we never really got out of it." That's complete nonsense. The National Bureau of Economic Research, the body which officially declares recessions in the US, defines a recession as "a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales."[1] Aside from the 2020 pandemic dive, there has been positive GDP growth every year since 2008.[2] [1] https://www.nber.org/news/business-cycle-dating-committee-an... [2] https://www.macrotrends.net/countries/USA/united-states/gdp-... |
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