GDP
What Is GDP, and How Is It Measured?
GDP is the single number that stands in for the whole economy, quoted in every budget debate and news bulletin. But what does it actually measure, and what does it quietly leave out? Here is a plain guide.
What Is a Recession, and How Is One Declared?
Everyone talks about recessions, but almost no one agrees on when one starts. The popular two-quarters rule is not the official definition, and the group that actually calls it often does so months later. Here is how it really works.