The latest on the “mental recession”

The economy, as measured by gross domestic product, grew by 1.9 percent in the second quarter of this year, the Commerce Department announced today. That’s nothing to write home about, but it’s not to be despised either.

A recession is defined as two consecutive quarters of negative economic growth. We’ve had two consecutive quarters of positive growth, gross domestic product having increased by 0.9 percent in the first quarter.

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