“Remember two years ago,when GDP was reported as having shrunk for two consecutive quarters, and there was an entire exhausting discourse about whether it qualified as a recession? Turns out it was a statistical illusion.”
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“The Commerce Department published on Thursday morning revised GDP data for the past several years based on more complete information. One of the adjustments: GDP is now estimated to have grown in the second quarter of 2022 at a 0.3% annual rate.”
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“The revisions also point to more robust GDP growth throughout the post-pandemic expansion, with 2021 GDP growth revised up by 0.3 percentage points, 2022 up 0.6 points, and 2023 up 0.4 points.”
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“GDP growth numbers for the second half of 2023 were revised down, pointing to some deceleration of activity heading into 2024.”
https://www.axios.com/2024/09/26/2022-recession-gdp-revision