What is an Economic Recession?

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Arecession is a period of declining economic performance across an entire economy that lasts for several months.

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Govern-ments officially declare recessions, says the two consecutive quarters of decline in real GDP are not how it is defined anymore.

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A variety of economic theories have been developed to explain how and why recessions occur.

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Recessions are visible in industrial production, employment, real income, and wholesale-retail trade.

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Recessions are characterised by a rash of business failures and often bank failures, slow or negative growth in production

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