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Recession is when the economy was in decline for three quarters and it were not three quarters yet.

Sorry, but the widely accepted definition of a technical recession is typically identified by two consecutive quarters of negative growth in real gross domestic product (GDP). Tuesday is the cut off date for the quarter and that will determine if the US is in technical recession.

You're right that the textbook definition of a technical recession is two consecutive quarters of negative real GDP growth. That part’s clear.

So technically, we can say “Q2 is over” on Tuesday, but we won’t be able to declare a recession (or not) until that data comes out. Unless you're inside the Fed or BEA models, we're all just speculating until then.

The advance estimate drops on July 22 from the BEA.

US is in a slight slowdown though

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