At the least as of now. However at finish 2003, there was. However not as of January 2002.
Determine 1: GDP as of 1/30/2002 (blue), as of 12/10/2003 (tan), as of 10/27/2022 (inexperienced), in Ch.2012$ in logs, 2001Q1=0. NBER outlined peak-to-trough recession dates shaded grey. Supply: BEA by way of ALFRED, BEA, NBER, and creator’s calculations.
Word that ECRI dates and NBER dates are the identical for this peak-to-trough episode.
Primarily based on GDP, Jim Hamilton notes that by the Chauvet-Hamilton measure, as of 2022Q2, the US economic system was not in recession. One commentator slavishly hews to the two quarter rule, based mostly on the present statistics.