While Will ('Definition of recession', Sept 3) is correct in stating that Malaysia is currently not facing a recession as the country has not yet faced two consecutive quarters of negative GDP growth (please forgive the oxymoron), there are some who argue that this definition, while convenient, may not be the best for all circumstances.

For example, if a country experiences +10 percent growth in the first quarter, -10 percent growth in the second, +0.1 percent growth in the third and -10 percent growth in the fourth, that country has technically not faced a recession in that year due to the +0.1 percent growth experienced in the third quarter, while people living in that country would very likely argue that it has.

Furthermore, I would say that the rapid deceleration in GDP growth in Malaysia would very likely bring about recession-like effects on the economy, e.g. a loss of consumer confidence, job losses, a fall in the stock market, increasing corporate bankruptcies, etc. Most countries do not decelerate from eight percent growth in one quarter to less than one percent growth in the next without feeling some sort of economic pain, and Malaysia is not an exception.

We should take some heart from Bank Negara's figures, though. Malaysia is guaranteed to be recession-free for at least another six months.