Australia has gone 25 years without a recession. Our recovery has gone on for 28 quarters. It can easily go for another 28.
Recessions are created by business/Market economy.
China never had, to my knowledge, any recession until recently when China Tried to change to Market economy. There are many countries where recession/correction is not in their terminology !
If you don’t want recession, easily fixed, change the definition, say to 4 quarters of negative growth then is called recession.
We didn’t even follow the correct definition for bull markets. For the 1982-2000 secular bull market we marked as beginning not the trough of the last bear but when market finally passed the last peak. If we followed the same definition we should mark the current bull market as starting in 2013, not 2009. That’d make all the bitching about “this bull market has been running for so loooong” downright silly.
I have been saying for years now we are in a powerful secular bull market. Doesn’t mean we won’t have some minor cyclical bear markets, just like we had some minor bears in the 1982-2000 run, but the secular trend is powerful and pointing upward.
Bull-bear market refers to stock market.
Growth-recession refers to economy.
Bear market = 20+% decline.
So Oct-Dec 2018 is a bear market😀
Frankly, not sure why pundits ignore the definition and say bull market has run for very long.
I think it missed by a few percent and didn’t get into bear. Anyway the 20% mark is arbitrary.
0.2% not a few 😀. Many stocks did go into bear markets. AAPL dropped about 40
So periodic cyclical bear markets did occur.