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So, what exactly *is* a recession, and how do we know if the **United States** experienced one in 2022? In simple terms, 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 the **USA**, the National Bureau of Economic Research (NBER) is the official body that determines when a recession begins and ends. While there's no single, definitive measure, they typically look at a range of indicators. They consider things like a decline in Gross Domestic Product (GDP), which measures the total value of goods and services produced in the country. They also look at employment rates, consumer spending, and manufacturing activity. In the case of 2022, there was a lot of debate, since the economy showed some mixed signals. For instance, the first half of the year did see a decline in GDP, a common indicator of a recession, but the labor market remained relatively strong. This created some confusion and disagreements among economists about whether the **USA** was technically *in* a recession.
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