Instagram and Facebook posts rejecting the Biden administration’s new definition of recession have been flagged as false information, which causes massive censorship of those posts.
The standard definition of recession is a negative GDP growth in two consecutive fiscal quarters. However, in an attempt to deny that the US has entered a recession, The White House published an online article with a new definition of recession.
“Both official determinations of recessions and economists’ assessment of economic activity are based on a holistic look at the data—including the labor market, consumer and business spending, industrial production, and incomes”, wrote the White House.
“Based on these data, it is unlikely that the decline in GDP in the first quarter of this year – even if followed by another GDP decline in the second quarter – indicates a recession”....
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