Quote:
Originally Posted by bd77  Are we going by the official definition?
a recession is a decline in a country's gross domestic product (GDP), or negative real economic growth, for two or more successive quarters of a year. |
NBER (National Bureau of Economic Research) has a more specific definition:
A recession is a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.
Want an even better picture? Take a look at the charts of Coach, Home Depot, Lowes etc....