Recession definition.

[999tigger]

recession is a negative economic growth for two consecutive quarters

 

So I have a question.

 

Imagine there is negative growth in Q3 and Q4, which would meet the requirements of a recession. When is the period of the recession? Is it:

 

1. Q3-Q4 and however long afer we are in negative growth.

2. Ignore Q3 and Q4, because we are only in recession from the new Q1 onwards?

 

Thanks.

[Gamston]

1.

 

........................

[El Cid]

recession is a negative economic growth for two consecutive quarters

 

So I have a question.

 

Imagine there is negative growth in Q3 and Q4, which would meet the requirements of a recession. When is the period of the recession? Is it:

 

1. Q3-Q4 and however long after we are in negative growth.

2. Ignore Q3 and Q4, because we are only in recession from the new Q1 onwards?

 

Thanks.

 

This is what google says ""Following six consecutive quarters of negative growth, the UK economy finally moved out of recession in the last quarter of 2009. The economy had moved into technical recession in the third quarter of 2008 as GDP fell for a second successive quarter.""

 

Not sure why they are calling it a "technical" recession.

[LeMaquis]

I believe Gamston is right for once. You only know you're in recession in hindsight. The last three recessions in the UK have each lasted five quarters, 1980-1, 1990-1 and 2008-9.