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A recession is commonly defined as two consecutive quarters of shrinking GDP, but in practice, these economic phenomena are more complex.

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Additional insights we found via Investopedia

  1. Recessions are sustained downturns in the economy. They’re significant, widespread, and there’s no single, surefire way to define or predict them.

  2. The most recent US recession was in 2022, though economists argue about whether or not it should count as a recession at all.

  3. Although GDP shrank for two quarters in a row in 2022, employment continued to rise, and personal income (excluding the end of COVID-19 stimulus measures) increased as well.

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