Posted 12/5/2018 12:02 (#7150525 - in reply to #7149376) Subject: RE: What would another recession do to the Ag economy?
It's judged on total GDP/production, not revenue, and a recession is actually slower growth. So 3 consecutive quarters of growth slower than same quarter YOY (ex. if Q3 LY growth was 3.1%, 2.9% growth would actually be the start of a recession, but you would need 3 consecutive quarters of it. 3 consecutive quarters of GDP decline is a depression.
It's tough to determine an ag recession or depression because lower production usually makes for higher prices and vice versa, so it cannot be judged traditionally.