Mary Hinge, Spain is in recession. I don’t care whether it falls under the misleading and worthless academic definition of recession or not.
Spain’s economy is contracting not growing -in the real world, that’s called a recession.
If the economy contracts in a quarter it contracts in a quarter, but for it to be officially in a recession it needs to be 2 quarters neg. GDP, hence officially it is not.
Thats the official definition of a recession, and even that means nothing, if it falls 0.0000001% in two quarters then its not much of a recession, even though officially it is.
Just because a blog says its officially a recession, even though it then says officially ITS NOT, it really means nothing. Its the period and to a greater extent the severity.