When Are We in a Recession? A recession is complicated to
define, but there are many indicators to examine. CREDIT: Wallet
image via Shutterstock To the average American, it might seem
ludicrous to suggest that the United States is not in a
recession right now. But economists' fuzzy definition of the
term makes it hard to say when a recession actually starts until
we're well into one. Last week, the International Monetary Fund
said the United States likely will slide into recession. And one
thing's for sure: When we get there, the economy will be in the
toilet. There are, of course, more technical definitions. You
might hear, for example, that recession occurs when gross
domestic product (GDP) growth is negative for two or more
consecutive quarters. But that's not an adequate measure, most
economists agree. The National Bureau of Economic Research
(NBER), a non-profit group that includes economics researchers
and professors from all over the country, has a somewhat formal
definition that is often cited, said