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Originally Posted by Arne
The econmic term recession can be used when real GDP growth is negative for two quarters. "Real" means: adjusted for inflation.
Otherwise government could just print trillions of dollars and say that there is GDP growth, since the numbers go up...
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Either all GDP growth is adjusted for inflation or it isn't. Which is it? There is a very accepted and tehcnical definition for GDP and for a recession. We aren't in one.
So if the guvment normally adjusts for inflation then okay, they will and we'll see a recession (doubt it however as I don't expect both months to be revised down) or we will not.
Now if you are saying the guvment SHOULD adjust for inflation but doesn't that's another argument alltogether and is irrelevant to whether the US is in an accepted recession or not.