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COVID recession was the shortest on record

The U.S. economic recession triggered by the COVID-19 pandemic officially ended in April 2020, the National Bureau of Economic Research said Monday.

By the numbers: The NBER initially said the recession brought on by the COVID-19 pandemic began in February 2020, making this is the shortest recession on record.


Why it matters: While some define recessions as two consecutive quarters of decline in real GDP, that measure is imprecise and lacks nuance.

  • The NBER considers changes in income, employment, retail sales, and industrial production in determining if there has been a "significant decline in economic activity."

What they're saying: "The NBER’s traditional definition of a recession involves a decline in economic activity that lasts more than a few months," the institution said in a statement.

  • "Nonetheless, the committee concluded that the unprecedented magnitude of the decline in employment and production, and its broad reach across the entire economy, warranted the designation of this episode as a recession."

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Why Microsoft CEO Satya Nadella isn't moving fast and breaking things

Critics argue that the impact of technology has grown so large that society can't afford for companies to release products just because they can, without fully anticipating issues like privacy and security. Microsoft CEO Satya Nadella couldn't agree more.

What they're saying: "Tech is becoming so pervasive in our lives, in our society and our economy, that when it breaks, it’s not just about any one tech breaking or one company breaking," Nadella said in an exclusive interview with Axios. "It impacts us all."

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