Not exact matches
Based on all the currently available data and that remark from Mr. Alexander, my working assumption is that this episode indeed will be
classified as a category 1
recession, but if a different conclusion were reached, it would probably be for very good reason.
Economies need to go through two consecutive quarters of economic contraction to
classify as being in
recession.
All that is left for the economy to be officially
classified as in
recession is for a second consecutive quarterly negative GDP growth in Q2 2016.
The authors
classified every period since 1926
as either a
recession or expansion, based on the criteria used by the National Bureau of Economic Research.
An additional 12 markets mentioned in the report have recovered from the
recession, but are just now heading toward expansion, and are
classified as being in the «recovery» phase, characterized by tightening market conditions and a shift in the supply / demand balance leading to reduced vacancy rates, more balanced rental growth and a stabilization of overall cap rates.