No one indicator is used to determine a recession. Rather, it’s a group of people, called the Business Cycle Dating Committee.

WSJ explains how this group decides when the U.S. has entered a recession, and why knowing that date is so important.

Illustration: Jacob Reynolds

WSJ Glossary
Markets and economics are complex. It's easy to be overwhelmed by a sea of wonky indicators and lose track of why they matter. This series breaks down the basic terms and ideas that move the markets.

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