From Nasdaq:

The Conference Board has walked back its U.S. recession call based on the Leading Economic Index (LEI) data that has contracted for the 23rd straight month. Despite weakness in manufacturing and consumer sentiment, the U.S. has avoided recession due to strength in services and sustained consumer spending.

While the U.S. avoided recession, several major economies like Japan, the UK, Germany, and France are either currently in a technical recession or just came out of one in Q4. Only the U.S., Canada, and Italy have avoided recession.

Looking at GDP alone is a crude way to judge the health of an economy. The National Bureau of Economic Research (NBER) also considers employment, income, and sales data to determine U.S. recessions. Despite technical recessions in some major economies, many still have solid labor markets and the recessions have mostly been mild.



Read more: ‘Recessions’ for Some Major Economies