by Yoyo Head on March 16th, 2004
Officially, what defines a recession is two consecutive quarters of negative growth in real Gross Domestic Product. In practice, any period of high rates of unemployment, interest rates, inflation, or other indicator is called a receccion by politicians and media people.
by amanda_0517 on January 16th, 2007
re·ces·sion (r-sshn)
n.
The withdrawal or retreating of tissue from its normal position.
1. The act of withdrawing or going back.
2. An extended decline in general business activity, typically two consecutive quarters of falling real gross national product.
3. The withdrawal in a line or file of participants in a ceremony, especially clerics and choir members after a church service.
A recession is defined to be a period of two quarters of negative GDP growth.
Thus: a recession is a national or world event, by definition. And statistical aberrations or one-time events can almost never create a recession; e.g. if there were to be movement of economic activity (measured or real) around Jan 1, 2000, it could create the appearance of only one quarter of negative growth. For a recession to occur the real economy must decline.
What does an accidental death insurance plan mean?
by Answerbag Staff on February 3rd, 2010
| 1 person likes this
What is the role of banks in currency&interest rate swaps?
by Answerbag Staff on February 3rd, 2010
| 1 person likes this
What is senior unsecured debt?
by Answerbag Staff on February 3rd, 2010
| 1 person likes this
What is balance payments, the current account, the financial account, the capital account?
by Alinaj on January 28th, 2010
| 1 person likes this
does the uk have a suffering economy like the usa?
by checkmatechad on January 31st, 2010
| 1 person likes this
You're reading What is the technical definition of a recession?
Your favorite Q&A site is on Facebook! Become a fan to connect with the ever-growing community of Answerbaggers, share your thoughts and find out what Answerbag's up to next!
Comments