Double Dip or Just Awfully Slow Growth—Does it Matter?
18 Jul, 2010
With the announcement on Friday the 27th of August of the downward revision in GDP to 1.6% for the second quarter 2010 the talk of a double dip recession increased among economists and members of the financial press. Even some of the most bullish economists were putting the odds at 25% or more.
A recession is commonly held to be two consecutive quarters of negative economic growth. A double dip recession is a recession followed by positive economic growth followed by another period of negative economic growth.