Are We in a Recession? Here's What 6 Key Indicators Show

The official arbiters of U.S. recessions look at six monthly indicators in determining whether the nation is indeed in a downturn -- and they're not flashing red.

The National Bureau of Economic Research's business-cycle dating committee rejects the notion that two negative quarters of gross domestic product is the definition of a recession. Instead, it looks at indicators ranging from consumption to jobs to industrial activity. "There is currently a conflict between the robust growth of payroll employment and the modest declines in some other monthly indicators," said Robert Gordon, a Northwestern University professor and member of the committee. He doesn't comment on his view of recession. On Thursday, government data showed gross domestic product fell at a 0.9% annualized rate in the second quarter after a 1.6% drop in the first three months of the year. Some economists consider that as an informal rule of thumb indicating a possible recession. In the gallery above is a rundown of the six data points.

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