Winter is coming but how do we know where we are in a recession?

Pronounced and persistent

Winter is just around the corner, seasonally and economically. But how bad could the economic winter really be?

When we talk about an economic winter, really, we are referring to a recession. We have a technical definition of a recession but there are little or no common definitions for all the possibilities around this technical definition. For example, what is considered a ‘mild' recession, or a ‘harsh' recession and when does a recession stop and a depression begins? The prevailing definition of a recession - two consecutive quarters of negative economic growth - was first introduced in an 1974 Op-Ed in the New York Times by professor Julius Shiskin. Private markets to face reality che...