How is a depression defined?

It shouldn’t come as any big surprise that with such a provocative title, we would be saddled with questions as to how an economic depression is even defined. Of course, most portfolio managers still don’t know that a recession is not defined as back-to-back quarters of negative real GDP prints (which we had neither in 2002 nor 2008) but instead the timing of the peaks in real sales activity, employment, industrial production and organic personal income growth.
Source: Merill Lynch
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One Response to How is a depression defined?

  1. Kannan says:

    Can you re arrange the order like this if you don’t mind..

    Ben,WEB,CM,SK,RJ

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