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In economics, a recession is a business cycle contraction that occurs when there is a period of broad decline in economic activity. [ 1 ] [ 2 ] Recessions generally occur when there is a widespread drop in spending (an adverse demand shock ).
Business cycles are a type of fluctuation found in the aggregate economic activity of nations that organize their work mainly in business enterprises: a cycle consists of expansions occurring at about the same time in many economic activities, followed by similarly general recessions, contractions, and revivals which merge into the expansion ...
It is a period of economic growth as measured (for example) by a rise in real GDP. [1] [failed verification] [2] The explanation of fluctuations in aggregate economic activity between economic expansions and contractions ("booms" and "busts" within the "business cycle") is one of the primary concerns of macroeconomics. [3]
There are periods of economic growth and periods of economic slowdown and it’s all part of the same cycle. The recession in 2020 was unprecedented because it occurred when COVID-19 upended the ...
The recession of 2020, was the shortest and steepest in U.S. history and marked the end of 128 months of expansion. Key Predictors, Indicators and Warning Signs of a Recession
Although the timing of a recession is always a mystery, it’s a fact of the business cycle that they will continually come and go. Preparing ahead of time is the best way to be able to handle any ...
This recession was mild enough that it may have only been a slowdown in the growth cycle. One theory holds that this would have been a recession, except the United States began to gear up for the Mexican–American War, which began April 25, 1846. [16] 1847–1848 recession late 1847 – late 1848 ~1 year ~1 year −19.7% —
The expansion lasted just over three years, followed by another brief recession in late 1948. Oct 1949– July 1953 45 +4.4% +6.9%: The United States exited recession in late 1949, and another robust expansion began. This expansion coincided with the Korean War, after which the Federal Reserve initiated more