Double Dip Recession May Be Happening

[NJ5]

MrT-Tar said:

radishhead said:
Thankfully we didn't join the Euro - but on the topic of double dip recession, I didn't think that the last one had ended yet?

a recession is just at least 2 quarters of negative GDP growth.  To go back into recession, the quarter we are currently in and the next have to see GDP fall.  Most of the developed world came out of recession in late 2009.  Our economies however still have what is known as a negative output gap, where they are not growing at their trend rate (about 2.5% for the U.K).

Actually I have seen different definitions of what a recession is. Employment, income, industrial production can also be part of the definition, making it possible to be in a recession even if GDP is slightly increasing.