recession
Recession refers to a significant and prolonged decline in economic activity, characterized by a contraction in GDP, decreased consumer spending, high unemployment rates, and reduced business production.
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Related Concepts (2)
Similar Concepts
- business bankruptcies during recession
- causes of economic recession
- consumer spending during recession
- economic downturn
- economic recession
- economic recovery
- global economic recession
- global recession
- government response to recession
- periods of economic contraction
- recessionary periods
- recovery
- regional economic recession
- unemployment
- unemployment rates during recession