What is a recession? Wikipedia can’t decide

What is a recession? Wikipedia can’t decide

Published July 30, 2022
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Wikipedia has locked its page for “recession,” setting restrictions on who can edit the entry until next week. The freeze was set after editors made a series of revisions to the definition of “recession.” Pavlo Gonchar/SOPA Images/LightRocket via Getty Images hide caption

Wikipedia has locked its page for “recession,” setting restrictions on who can edit the entry until next week. The freeze was set after editors made a series of revisions to the definition of “recession.”

On Thursday, the Commerce Department reported that the economy shrank at an annual rate of 0.9% in April-June quarter, marking the second consecutive quarter of negative GDP, or gross domestic product. A back-to-back drop in GDP is considered by many to be an unofficial barometer for a recession.

Days ahead of the release of the latest numbers gauging economic health, President Biden had insisted that low unemployment numbers, record job growth and foreign business investment signaled a strong economy.