The economy is currently experiencing a W-shaped recession.
W-shaped recession
idiomAn economic downturn where key indicators such as GDP and employment plummet sharply, briefly rebound, dip again, and then recover fully, forming a W pattern on a chart.
Analysts worry that the recent market recovery is temporary and that we are actually entering a W-shaped recession.
While some economists predicted a swift recovery, the volatile data suggests a W-shaped recession, characterized by a secondary decline after the initial rebound.