Is the recession clock ticking?

1st quarter GDP was -1.3%. So the focus is on THIS quarter.

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Recession watch.
Welcome to the Know the Difference Minute for Wednesday, June 8th
Many say recessions are marked by two consecutive quarters of negative GDP. 1st quarter GDP was negative 1.3%. There’s ONE. So the focus is on THIS quarter. The Atlanta Fed’s GDPNow tracker yesterday puts Q2’s gain at just .9%. That’s close.
Back to what defines a recession. It might not be 2 consecutive quarters of negative GDP. The National Bureau of Economic Research makes the call. It says a recession is a QUOTE significant decline in economic activity that is spread across the economy and lasts more than a few months UNQUOTE.
Some, but not all, still believe consumers will come through and job growth will be sufficient to keep us out of recession. At least this year.
I’m Dave Spano from Annex Wealth Management. That is your Know the Difference Minute.