Measuring Recession

Jeffrey Frankel compares US and European methods of assessing recessions and comes down firmly on the side of the US version: not two quarters of negative growth but a more holistic assessment of the economy and its potential.

"These measurement issues may sound like minor technical details; but they can have significant real-world implications. So, what are the differences between European and US criteria for judging recessions?"

The US measurement removes the constant twitter about double or triple dips.