Both of those are up to the consensus of the group of economists. They regularly talk about it with each other and compare with historical data mostly. Keep in

Both of those are up to the consensus of the group of economists. They regularly talk about it with each other and compare with historical data mostly. Keep in mind economics is a social science, not exact science. It would strike me more as "feeling it out", but they are not in a rush to announce it is or is not a recession until they have a better feel. Everyone seems to be rushing to call it a recession as early as possible. The economist I heard talking had a "wait and see" attitude on the podcast which was refreshing to hear.