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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".
There is no official definition of a recession, according to the IMF. [3] In the United States, a recession is defined as "a significant decline in economic activity spread across the market, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales."
The effects of these events were also felt on the Shanghai Composite Index in China which lost 5.14 percent, most of this on financial stocks such as Ping An Insurance and China Life which lost 10 and 8.76 percent respectively. [36] Investors worried about the effect of a recession in the US economy would have on the Chinese economy.
Some people fear a recession when things have simply been “too good” for a long time. The recession caused by the coronavirus is an example of a shock to the economic system. Recession vs ...
The recession in 2020 was unprecedented because it occurred when COVID-19 upended the economy by forcing businesses to shutter and encouraging people to stay home. By definition, a recession has ...
Its stock markets have been among the world’s worst recently due to worries about a sluggish economic recovery and troubles in the property sector. The U.S. economy faces its own challenges.
The recession data for the overall G20 zone (representing 85% of all GWP), depict that the Great Recession existed as a global recession throughout Q3 2008 until Q1 2009. Subsequent follow-up recessions in 2010–2013 were confined to Belize, El Salvador, Paraguay, Jamaica, Japan, Taiwan, New Zealand and 24 out of 50 European countries ...
A recession means the UK economy has shrunk for two three-month periods - or quarters - in a row.