Recession
Recession
recession
A cyclical downturn, a bust, a recession: it depends on how serious it is and how long it lasts.
recession A+ Class
The 2008 United States economic downturn was classified as a recession. A recession is defined as negative GDP growth for 2 or more consecutive quarters. In 2009 there was 3 quarters of negative growth before positive GDP began.
2022
The Roosevelt Recession
A downturn or recession.
A recession is a modest downturn in the level of economic activity. Technically, this is indicated by two consecutive quarters of negative economic growth by the GDP.
Recession means decrease in the employment rate, investment rate, profit rate of the economy, Idea of a downswing/downturn in a business or trade cycle. The Economic growth will be negative. If the recession period increase then this will be called depression.
If it's a short downturn or slowdown during a business cycle, it's a recession. If it's a longer, sustained and more severe downturn, it's a depression.