What is the definition of a Recession? Are we in one?
There's been so much talk about Recession lately. Are we, aren't we. Will we see more of a decline in the GDP in Q2? Will the Stimulus package brought about by the Feds help?
Simply put, "In macroeconomics, a recession is a decline in a country's gross domestic product (GDP), or negative real economic growth, for two or more successive quarters of a year. WIKI says, a recession is a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.
In 2007 the GDP for each quarter declined. Healthy growth is 2-3%. Q4 2007 was .6%. Economic growth plummeted from 4.9% in Q3, and 3.9% in Q2 2007. The total GDP for the year was 2.2%, down from the 2006 growth rate of 2.9%. The big concern now is the Q1 GDP for 2008. A recession could ensue if Q2 GDP also turns negative.
Given the data. Are we in a recession? What do you think.
Saturday, March 29, 2008
It's still cold and I am still loving it! Easter was lots of fun. We had an egg hunt for the kids. Billy was joking around about expecting to see the local newscrew there thinking it was a town event when it was actually just our family. Jillian found the Golden Egg.
After Church and the Egg Hunt we went back to Jeannies "our house". As always it was a full house and we had fun. We played cards and we got a little out of control. I laughed so hard Marc thought we were drinking.