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Official economic data shows that a substantial number of nations were in recession as of early 2009. The US entered a recession at the end of 2007, [185] and 2008 saw many other nations follow suit. The US recession of 2007 ended in June 2009 [186] as the nation entered the current economic recovery.
A balance sheet recession is a type of economic recession that occurs when high levels of private sector debt cause individuals or companies to collectively focus on saving by paying down debt rather than spending or investing, causing economic growth to slow or decline.
Recession Period. Start. End. Total Time Elapsed. The Great Depression–Late ’20s and Early ’30s. August 1929. March 1933. 3 years, 7 months. The Great Recession–aka The 2008 Financial Crisis
The 1948 recession was a brief economic downturn; forecasters of the time expected much worse, perhaps influenced by the poor economy in their recent lifetimes. [62] The recession also followed a period of monetary tightening. [40] Recession of 1953: July 1953 – May 1954 10 months 3 years 9 months 6.1% (September 1954) −2.6%
Technically, a recession is defined by economists as two consecutive months of economic retraction. But on a real-world basis, a recession is a tangible economic slowdown, usually accompanied by ...
In a V-shaped recession, the economy suffers a sharp but brief period of economic decline with a clearly defined trough, followed by a strong recovery. V-shapes are the normal shape for a recession, as the strength of the economic recovery is typically closely related to the severity of the preceding recession. [3]
The National Bureau of Economic Research (NBER) defines a recession as two consecutive quarters of negative gross domestic product (GDP) growth coupled with "a significant decline in economic ...
Download as PDF; Printable version; In other projects Wikidata item; Appearance. ... Economic depression; Growth recession; List of recessions in the United Kingdom;