Quote:
Originally Posted by split_joel
A Recession is defined as two back to back quarters of negative growth. I am not denying that the country is in for some hard times but technically you can not call it a recession yet.
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Sure you can. The definition you mention is fundamentally flawed, and is best ignored completely.
http://www.economist.com/finance/dis...ry_id=12207987
http://money.cnn.com/2008/05/05/news...sion/index.htm