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The Washington Post, CNN, The New York Times and others embraced the White House definition of a recession on Thursday after GDP numbers showed consecutive quarters of negative growth as the U.S. economy enters a recession.
Headlines from several media outlets framed the news as “fueling recession fears” despite the economy entering a technical recession after Thursday’s gross domestic product showed 0.9 percent contraction on an annualized basis from April through June.
“U.S. economy shrinks again in second quarter, reviving recession fears,” a Washington Post headline read. The report acknowledges that the numbers have “often signaled a recession.”
Similarly, the Associated Press report on the news said the second quarter numbers were “raising fears that the nation may be approaching a recession.”
“Consecutive quarters of falling GDP constitute one informal, though not definitive, indicator of a recession,” the AP report said.
A Washington Post headline says the second quarter negative GDP numbers were “reviving” recession fears.
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CNN’s front-page headline described the news as crossing a “symbolic recession threshold,” and its report also used “fueling recession fears.” The report describes the technical definition of a recession as the “unofficial” definition.
“That decline marks a key symbolic threshold for the most commonly used — albeit unofficial — definition of a recession as two consecutive quarters of negative economic growth.”
A Business Insider story Thursday, headlined, “Today’s GDP numbers don’t tell us if we’re in a recession – and we won’t know for sure until we’re already in the middle of a crisis,” said the GDP figures didn’t provide “clarity” on the state of the U.S. economy.
“The US economy shrank by 0.9% in the second quarter, following a 1.6% decline in the first quarter. Two…
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Source : foxnews
