BBCNEWS Newsday June 4, 2024 00:10:00
Negative growth is concerning, but it wouldn't fit anyone's definition of recession, certainly not the national bureau of economic research which, in the united states is the official chronicler of recessions since the recession of 1857. the criteria required not only check to make negative gdp growth but a downturn in the economy that satisfies the three d's which are depth, duration and diffusion and that is not the case here. as president biden said, if you look at the labour market we have been having very rapid growth and the labour market is very hot, very tight which is indeed one of th...