[oburb]

We're not in a recession (a period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.), at least not in the US. https://fred.stlouisfed.org/series/GDP

[Izkata]

People typically use the "Real GDP" (adjusted for inflation) when making that argument: https://fred.stlouisfed.org/series/GDPC1

It did shrink for two quarters in a row, Q1 and Q2 2022. Q3 went back up.

Here's a "Real GDP percent change" graph that makes it easier to see: https://fred.stlouisfed.org/series/A191RL1Q225SBEA

[next_xibalba]

Those data lag real time quite significantly.

Interestingly, according to a recent poll, most Americans believe the U.S. is now in a recession. That belief alone may be enough to make a recession a reality.

https://www.politico.com/f/?id=00000184-3674-ddd7-afd7-3ef41...