There’s a formal definition of recession — two or more quarters of declining GDP. Weren’t into that at a national level, even if some specific areas were.
Normal people associate recession with their own lives getting shittier. That used to happen when the GDP shrunk multiple quarters in a row. Now wealth inequality has enabled regular peoples’ lives to get shittier even with a rising GDP. So the official recession definition has lost all meaning for regular folk.
There’s a formal definition of recession — two or more quarters of declining GDP. Weren’t into that at a national level, even if some specific areas were.
Normal people associate recession with their own lives getting shittier. That used to happen when the GDP shrunk multiple quarters in a row. Now wealth inequality has enabled regular peoples’ lives to get shittier even with a rising GDP. So the official recession definition has lost all meaning for regular folk.