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- Dictionaryrecession/rɪˈsɛʃn/
noun
- 1. a period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters: "the country is in the depths of a recession"
- 2. the action of receding; motion away from an observer.
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Apr 16, 2024 · A recession is a significant, pervasive, and persistent decline in economic activity. Economists measure a recession's length from the prior expansion's peak to the downturn's...
In economics, a recession is a business cycle contraction that occurs when there is a period of broad decline in economic activity. [1][2] Recessions generally occur when there is a widespread drop in spending (an adverse demand shock).
Feb 13, 2024 · A recession is a significant decline in economic activity that lasts for months or even years. Experts declare a recession when a nation’s economy experiences negative...
Definition: Recession is a slowdown or a massive contraction in economic activities. A significant fall in spending generally leads to a recession. Description: Such a slowdown in economic activities may last for some quarters thereby completely hampering the growth of an economy.
The NBER’s Business Cycle Dating Committee defines a recession as “a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in production, employment, real income, and other indicators.
a period when the economy of a country is not doing well, industrial production and business activity are at a low level, and there are many people unemployed: [ U ] The country is mired in recession. [ C ] The Japanese economy is experiencing its worst recession in 20 years.
Sep 27, 2024 · recession, in economics, a downward trend in the business cycle characterized by a decline in production and employment, which in turn causes the incomes and spending of households to decline.
