are we in a recession

The US is currently not in an official recession as of September 2025. Analysts note some recession warning signs such as a rapidly cooling labor market, slower growth, and some contraction in GDP earlier in the year. However, most forecasters do not expect a severe or prolonged recession and anticipate growth to reaccelerate next year. Job cuts are occurring in many sectors, but a persistent decline in employment that qualifies as a recession has not yet been reached. Consumer spending and corporate earnings growth have shown instability, but the economy is still growing at a modest pace, and the National Bureau of Economic Research (NBER) has not declared a recession at this point.