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The International Monetary Fund defines a global recession as "a decline in annual per‑capita real World GDP (purchasing power parity weighted), backed up by a decline or worsening for one or more of the seven other global macroeconomic indicators: Industrial production, trade, capital flows, oil consumption, unemployment rate, per‑capita investment, and per‑capita consumption".
In the past few months, as the economic downturn has left millions out of work and millions more struggling to make ends meet, many have directed their spare time and unused talents toward helping ...
Adverse events: Unexpected major world events like natural disasters and geopolitical events like wars can cause widespread disruptions in critical sectors in supply chains and disrupt economic activity, reduce productivity, increase costs, affect confidence and thereby diminish economic activity, leading to decreased spending and investment ...
The number of unemployed people worldwide could increase by more than 50 million in 2009 as the global recession intensifies, the ILO has forecast. [18] In December 2007, the U.S. unemployment rate was 4.9%. [19] By October 2009, the unemployment rate had risen to 10.1%. [20]
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The much-anticipated recession of 2023 has yet to materialize.Some of the latest economic data point to more signs of strength than weakness.. One strategist has a term for what that says about ...
The COVID-19 pandemic caused far-reaching economic consequences [1] including the COVID-19 recession, the second largest global recession in recent history, [2] decreased business in the services sector during the COVID-19 lockdowns, [3] the 2020 stock market crash (which included the largest single-week stock market decline since the financial ...
A recession means the UK economy has shrunk for two three-month periods - or quarters - in a row.