This whole recession word is a crock anyway. It's just a technical term that can be very misleading. For example if you have an upturn of 10% in 1 quarter, then the next two quarters of downturn, 1% each quarter you are in a recession, but if you had a 10% decrease in the first, a 1% increase in the second and a 10% decline in the third that is not a recession even though the second scenario is much worse than the first. There's always too much focus on this technical term.
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Peter Batten, MD
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