Businesses, investors, and government officials track various economic indicators that can help predict or confirm the onset of recessions.
A recession is a period of declining economic performance across an entire economy that lasts for several months. A recession is a macroeconomic term that refers to a significant decline in general economic activity in a designated region. It had been typically recognised as two consecutive quarters of economic decline, as reflected by GDP in conjunction with monthly indicators such as a rise in unemployment.
Govern-ments officially declare recessions, says the two consecutive quarters of decline in real GDP are not how it is defined anymore. It defines a recession as a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.
Businesses, investors, and government officials track various economic indicators that can help predict or confirm the onset of recessions.
A variety of economic theories have been developed to explain how and why recessions occur.
Recessions are visible in industrial production, employment, real income, and wholesale-retail trade. Recession is a normal, albeit unpleasant, part of the business cycle.
Recessions are characterised by a rash of business failures and often bank failures, slow or negative growth in production, and elevated unemployment.
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