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Recession
A significant decline in economic activity. In the U.S., recession is approximately defined as two successive quarters of falling GDP, as judged by NBER. A recession in one country may be caused by, or itself cause, recession in another country with which it trades.
Recession
A decrease in economic activity (usually measured in terms of Gross National Product or GNP) for two consecutive quarters. A severe recession is known as a depression.
Recession
A temporary downturn in economic activity, usually indicated by two consecutive quarters of a falling GDP.
Recession
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