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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.
The recession caused by the coronavirus is an example of a shock to the economic system. Recession vs. Depression There is no true economic marker that differentiates a recession from a depression.
Economists commonly use the term recession to mean either a period of two successive calendar quarters each having negative growth [clarification needed] of real gross domestic product [1] [2] [3] —that is, of the total amount of goods and services produced within a country—or that provided by the National Bureau of Economic Research (NBER): "...a significant decline in economic activity ...
A recession begins when the economy reaches a peak of economic activity and ends when the economy reaches its trough. Economic Recessions in the U.S. Recessions are a normal part of the business ...
Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
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%
Recession indicators are flashing red, but economists argue they could be false signals this economic cycle, revealing a broader truth about the recession predicting business itself. Recession ...
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.