AI
Tuesday, January 08, 2008 8:42:06 PM
It seems the answer is -- as with many things not digital -- it depends
http://www.econmodel.com/classic/terms/recession.htm
Two consecutive quarters of decline in real GDP is commonly taken to be a recession. The National Bureau of Economic Research, a private organization, effectively decides when recessions occur, however, and the actual dating process is determined by judgment rather than a formal rule.
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