Definition of Recession.
Meaning;
Recession is a significant, widespread downturn in economic activity.
Recessions typically produce declines in economic output, consumer demand, and employment.
Related
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Overcome a recession
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During a recession
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What causes a recession
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Ways to Recession
Examples
the current recession drives an additional 3 million children into poverty.
According to
A recession is a decrease in economic activity that cause a rise in the unemployment rate. When people are not working, they are less likely to spend money on goods and services, especially luxury items. This hurts the businesses that make these goods and services. But recessions may not necessarily be a cause for concern. In fact, they are a normal part of what's known as the business cycle. The economy naturally experiences ups and downs. A recession is an example of a down period. Given time, money matters may correct themselves and start swinging back up after a slowdown. During a recession, companies sell fewer goods and services. As a result, companies lay off workers because they no longer need them. Having fewer workers also lowers a company's cost, Still, some companies go out of business, when people lose their jobs, the unemployment rate rises.
Jeanne Nagle
How a Recession Works
A recession is generally defined as six months or more of declining gross deomestic product (GPD), GDP is the measure of the value of all goods and services that a nation produces. In identifying the turning points of a recession, the NBER (National Bureau of Economic Research) examines a number of other important economic indicators in addition to GDP, like income, unemploymetn levels, industrial production, and sales. Along with a handful of other ,indicators, these statistics convey a clear idea of the direction in which the economy is heading. Recessions are a normal part of the business sycle, which is a pattern of alternating economic growth and contraction. The business cycle has four phases: peak, recession, trough, and expansion. The peak is the point at which growth is the highest. After the peak, the economy contracts, resulting in a recession. The trough is the lowest point in the downturn. It is followed by a recovery characterized by expansion and renewed growth.
Jason Porterfield
How a Recession Affects You