Are We in a Recession Yet? From Memes to Metrics, Here's How to Know

Getty Image/ Zooey Liao/ CNET Anything is a #RecessionIndicator on social media these days. A Dunkin' Donuts shuttering in Boston. The return of the ice bucket challenge. Gallows humor has always been a coping mechanism. While recession memes represent a cultural zeitgeist, there's real anxiety about the economy under the surface. When more of us are dependent on credit for basic necessities like groceries, bracing for a formidable storm doesn't seem so tongue-in-cheek. More indicators came this week: The US economy shrank by 0.3% in the first quarter, the biggest drop in GDP since 2022, and weekly jobless claims surged to 241,000, up 18,000 from the previous week. President Donald Trump's erratic tariff agenda and austerity measures paved the way by driving up prices on consumer goods, shaking up the stock market and sparking widespread consumer pessimism. Things aren't that bad, say some economists, at least according to formal metrics. For most of us, however, the dread of a rec ... Read full article.