Macro glossary

GDP Growth

The annualized percentage change in real gross domestic product.

Definition

Two consecutive quarters of negative real GDP growth is the popular rule-of-thumb definition of recession, though NBER uses a broader set of criteria. GDP is released quarterly with a 4-6 week lag, making it a lagging indicator.

Related indicators

GDP Growth

Track U.S. GDP growth rate and nowcast estimates. Two consecutive quarters of negative GDP growth is

GDPNow

Track the Atlanta Fed GDPNow model — a real-time GDP growth estimate updated throughout the quarter

Related terms

GDPNow

The Atlanta Fed's real-time GDP nowcast, updated 6-8 times per quarter.

Recession

A significant, broad-based, sustained decline in economic activity lasting more than a few months.

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