Recession?
In the economic literature, a recession can be defined as the situation in which an economy is in recession for two consecutive quarters. To indicate that an economy is fully in recession, production, employment, real income, consumption and other metrics must be declining in parallel with the gross domestic product data.
In this article, we will focus on the causes, symptoms and consequences of recession. We will also discuss ways to get out of a recession and how to behave in recessions. Read on to learn more about the definition and characteristics of recession.