jordanlund, 17 days ago “Citigroup has become the first big American bank to warn that the US has already tipped into a recession.” A recession is commonly defined as “two consecutive quarters of decline in a country’s real (inflation-adjusted) gross domestic product (GDP)”. www.bea.gov/data/gdp/gross-domestic-product Q4 2023 - +3.4% Q1 2024 (2nd) - +1.3% Next announcement is 6/27. So, no, we aren’t in a recession YET. Even if the 2nd quarter is a decline, we’d need a decline in the 3rd quarter as well to officially call it.
“Citigroup has become the first big American bank to warn that the US has already tipped into a recession.”
A recession is commonly defined as “two consecutive quarters of decline in a country’s real (inflation-adjusted) gross domestic product (GDP)”.
www.bea.gov/data/gdp/gross-domestic-product
Q4 2023 - +3.4% Q1 2024 (2nd) - +1.3%
Next announcement is 6/27.
So, no, we aren’t in a recession YET. Even if the 2nd quarter is a decline, we’d need a decline in the 3rd quarter as well to officially call it.