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(The Brazilian industrial sector has had two straight quarters of negative growth).
But by the generally accepted definition -- two straight quarters of contraction -- it may already be here.
After all, a recession is defined traditionally as two straight quarters of contraction — and officially, there has not even been one.
The most popular definition of recession, however, requires a contraction for two straight quarters -- a standard that cannot be met until the year's end.
That was the largest number of downgraded regions since January 2009, when the central bank cut its assessment for all nine regions for two straight quarters in the aftermath of the failure of Lehman Brothers.
Under the act, if the economy grows by less than 1percentt for two straight quarters, Congress and the President may agree to waive its provisions requiring automatic cuts in Federal spending.
Similar(35)
Total household credit has contracted for seven straight quarters.
Smartphone sales have been falling for five straight quarters.
The profit ended seven straight quarters of losses.
Foreign investments to South Korea have declined for four straight quarters.
The economy has been growing, however feebly, for five straight quarters.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com