Page 8 - NBIZ October 2022
P. 8
THE ECONOMY AT A GLANCE
Houston
By Greater Houston Partnership
RECESSION? MAYBE, MAYBE NOT
Three questions dominate any discussion about the econ omy these days:
• Is the U.S. in a recession?
• If not, how likely are we to end up in one?
• If the U.S. slips into a recession, will Houston follow?
The following attempts to answer those questions.
Is the U.S. in a recession?
One rule of thumb holds that the U.S. is in re cession when real gross domestic
product (GDP) declines for two con secutive quarters. GDP declined 1.6 per cent in
Q1/22 and 0.6 percent in Q2/22.
% CHANGE IN GDP FROM PRIOR QUARTER*
* Seasonally adjusted annual rate
Source: U.S. Bureau of Economic Analysis
8 NBIZ ■ October 2022
