Browsing: recession

What is a recession?A recession is a period of economic decline that is characterized by a decrease in gross domestic product (GDP) for two or more consecutive quarters (six months or more). During a recession, economic activity slows down and businesses may struggle to sell their products and services, leading to job losses and rising unemployment. The effects of a recession can be felt across an economy, as businesses struggle to remain profitable, and consumers may cut back on spending in order to save money. Governments may respond to a recession by implementing fiscal policies, such as increasing spending or…

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