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When do they call a downturn a recession?

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sptrawler

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If they take out the mining expenditure from the economies statistics. I would be very suprised if we are not in a recession. It really isn't very funny, when we should be riding the crest of the China wave, why am I in cash.
I suppose this is the problem when you are using a one sided tool to fix a multi faceted problem. Just relying on the RBA and interest rates, rather than applying different tax measures, ends up with everybody coping it.
 
Would be better if there were no RBA, and no tax.

A recession is negative GDP growth, a downturn is less GDP growth than there was, and a depression is a recession + FDR.
 
tothemax6 said:
Would be better if there were no RBA, and no tax.

A recession is negative GDP growth, a downturn is less GDP growth than there was, and a depression is a recession + FDR.
Click to expand...

Technically recession is 2 successive quarters of negative GDP growth. So we can't be in a recession until end of July at the earliest.
 
skc said:
Technically recession is 2 successive quarters of negative GDP growth. So we can't be in a recession until end of July at the earliest.
Click to expand...

It will be "The Recession We Never Had To Have".....
 
The old joke is a recession is when your next door neighbor losses his job, a depression is when you loss yours
 
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