Deprcon is a short from depression condition and it describes the short-term conditions in economy and financial markets. If the value of deprcon is five, economy is expected to be booming, while if the value is one, economy is heading for a recession or even depression.

The value of deprcon forecasts from one to two quarters ahead. The forecast utilizes information on the current state of the stock market and its volatility, Libor-ois spreads, credit default swaps, long-term interest rates, and the recession probability forecasts provided by GnS economics.