this post was submitted on 20 May 2024
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NZ Politics
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What's the difference between a technical recession or an actual recession. Words are supposed to have meanings and recession is a well defined term with globally accepted measurement metrics.
If we are technically in a recession it means we are in a recession.
A recession is two consecutive periods of negative growth. So usually a "technical recession" means "we meet the criteria for a recession but we're not experiencing the bad effects you'd expect (yet)"
The point is that the word recession has a meaning, the meaning is accepted worldwide, and we are in one. I would also dispute that we are not experiencing the bad effects. The polls seem to indicate the public is feeling quite a bit of pain.
Well 'we' aren't actually in a recession. Economic growth in the US has been positive the last several quarters.
Possibly in NZ Politics the "we" context would be obvious?
Who is the "we" you are talking about?