Double Dip

Double Dip

A rather glaring transatlantic divide opened up in the first quarter, as the eurozone succumbed to a double-dip recession even as the US economy powered along, fueled by stimulus and aggressive vaccination rollout. Economic activity across the pond shrank 0.6% QoQ in the first three months of 2021, Eurostat said Friday (figure below). That followed a 0.7% contraction in Q4. "The first quarter has been another disappointment in the eurozone as lockdowns were extended pretty much throughout the
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2 thoughts on “Double Dip

  1. I’m tired of economists defining a recession as 2 consecutive quarters of declining GDP growth (almost as bad as a 20% correction being a ‘bear market’). I agree with Gundlach that you should only exit a recession when a new high is made in nominal/real GDP

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