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I'm doing an exercise from Blanchard Macroeconomics where I'm, apart from other things, asked to calculate the severity of recessions in the US since 1960. The data on the webpage that's referenced is this one https://www.bea.gov/data/gdp/gross-domestic-product. Now it seems to me, that the quarterly data refers to the growth compared with the same quarter last year. How can I gauge the "magnitude" of a recession from this data ?

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    $\begingroup$ On that website there's also the level of GDP as well, not just growth. $\endgroup$ – Art Oct 22 at 9:29

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