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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 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
The recession coincided with a major panic, the date of which may be more easily determined than general cycle changes associated with other recessions. [8] 1828–1829 recession 1828–1829 ~1 year ~2 years In 1826, England forbade the United States to trade with English colonies, and in 1827, the United States adopted a counter-prohibition.
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 can mean very different things to different people. It all depends on your own personal financial situation. For example, if you’re not a stock market investor, ...
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
The recession officially ended in the second quarter of 2009, [3] but the nation's economy continued to be described as in an "economic malaise" during the second quarter of 2011. [80] Some economists described the post-recession years as the weakest recovery since the Great Depression and World War II.
What is a recession? Unlike a feeling of being in a down economy, a recession is a significant decline in economic activity across the economy, lasting more than a few months. It is typically ...