A decline in business activity Often defined as two consecutive quarters with a real fall in GNP
When demand in the economy decreases, prices of goods and services also decrease, resulting in a slowdown of the economy When this slowdown becomes a long-term decline, this is known as a depression
A period when business production, employment and earnings fall below levels which the economy is capable of achieving A period when national income declines for two or more consecutive 3-month periods
The act of ceding back; restoration; repeated cession; as, the recession of conquered territory to its former sovereign
the withdrawal of the clergy and choir from the chancel to the vestry at the end of a church service
the withdrawal of the clergy and choir from the chancel to the vestry at the end of a church service the state of the economy declines; a widespread decline in the GDP and employment and trade lasting from six months to a year
A phase of the business cycle extending from a peak to the next trough--usually lasting six months to a year--and characterized by widespread declines in output, income, employment, and trade in many sectors of the economy Real GDP usually falls in a recession See business cycle [Back to top]
A downturn in economic activity on a large scale, such as in the U S economy The Commerce Department defines a recession as two or more quarters of decline in output, as measured by Gross National Product (GNP) or Gross Domestic Product (GDP)
A downturn in economic activity, broadly defined by many economists as at least two consecutive quarters of decline in a nation's gross domestic product (GDP) BACK TO TOP
Downturn in economic activity, defined by many economists as at least two consecutive quarters of decline in a country's Gross Domestic Product
That phase in the business cycle in which the pace of economic growth slows Real GDP falls for two consecutive quarters six months to recorded as a recession