Explained · in 60 seconds
Recession, explained in 60 seconds
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What is a recession?
A significant, widespread and more than brief decline in economic activity: less output, less income, fewer jobs.
The rule of thumb
People often say: two quarters in a row of shrinking GDP. That is a rule of thumb, not an official definition.
Who makes the official call?
In the US, a committee of the National Bureau of Economic Research (NBER). It looks at many figures – jobs, income, spending, production – and often dates the start and end months later.
The latest figure
The US economy grew at an annual rate of 2.2% in Q2 2026 (BEA); unemployment was 4.2% in September 2026 (BLS).
The figures: US unemployment rate · US GDP growth
Frequently asked questions
How long does a recession last?
In the US since 1945, about ten months on average (NBER).
Does a recession mean I will lose my job?
Not necessarily – but unemployment usually rises in recessions.
DESK is a research tool and not investment advice. Figures: official sources, see the linked data pages.
More figures and explainers
US inflation rate · US unemployment rate · Fed funds rate · ECB interest rate · US crude oil inventories · EUR/USD exchange rate · US GDP growth · Germany inflation rate · Euro area inflation rate · 10-year Treasury yield · Gold price · FOMC meeting dates · ECB meeting dates
Inflation, explained · How the Fed sets interest rates, explained · The euro, explained
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DESK is a research tool and not investment advice. Page generated: 2026-10-16.