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Recession Definition: Two Quarters of Negative GDP Growth

This House of Representatives resolution states that two consecutive quarters of negative Gross Domestic Product (GDP) growth, as reported by the Bureau of Economic Analysis, constitute a recession. While it doesn't directly change citizens' daily lives, it aims to standardize how the government defines and communicates the state of the economy, potentially influencing future policy decisions related to finance and employment.
Key points
The resolution formally defines two consecutive quarters of negative GDP growth as a recession.
It aims to standardize the definition of recession in government communication.
May influence how citizens understand and react to economic information.
article Official text account_balance Process page
Expired
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Additional Information
Print number: 117_HRES_1290
Sponsor: Rep. Schweikert, David [R-AZ-6]
Process start date: 2022-07-27
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Expressing the sense of the House of Representatives that two consecutive quarters of negative growth in gross domestic product, as reported by the Bureau of Economic Analysis, constitutes a recession.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HRES_1290.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2022-07-27.

What are the main provisions?

Key points include:

  • The resolution formally defines two consecutive quarters of negative GDP growth as a recession.
  • It aims to standardize the definition of recession in government communication.
  • May influence how citizens understand and react to economic information.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Schweikert, David [R-AZ-6].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Oversight and Reform.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-27.

CATEGORIES

Economy