This chart shows the quarter-over-quarter, annualized change in the Gross Domestic Product (GDP) and Consumer Price Index (CPI), in relation to the S&P 500.
The gray bars indicate recessions, as defined by the National Bureau of Economic Research (NBER), and not by the textbook definition of 2 consecutive quarters of negative real GDP growth.
= recessions
The gray bars indicate recessions, as defined by the National Bureau of Economic Research (NBER), and not by the textbook definition of 2 consecutive quarters of negative real GDP growth.
= recessions