Recession

A recession is a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales. It is often technically defined as two consecutive quarters of negative growth in a country's gross domestic product (GDP), but broader indicators are usually considered by economists and official bodies to declare a recession. This economic contraction leads to reduced consumer spending, declining business investment, and often an increase in unemployment rates.