2007-09-04 06:29:18 · 6 answers · asked by Anonymous in Social Science ➔ Economics
National Bureau of Economic Research defines recession as "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."
2007-09-04 08:29:42 · answer #1 · answered by NC 7 · 1⤊ 0⤋
A period of economic decline. A recession is when you reach a peak of economic growth and start to head back down. Not as bad as a depression :)
2007-09-04 06:35:16 · answer #2 · answered by Josh D 2 · 0⤊ 0⤋
1. the act of receding or withdrawing.
2. a receding part of a wall, building, etc.
3. a withdrawing procession, as at the end of a religious service.
4. Economics. a period of an economic contraction, sometimes limited in scope or duration.
2007-09-04 06:35:24 · answer #3 · answered by Kathryn 4 · 0⤊ 0⤋
Recall President Reagn saying ... a recession is when your neighbor loses his job and a depression is when you lose your job.
Cheers !
2007-09-04 09:44:12 · answer #4 · answered by distill80 3 · 0⤊ 0⤋
A mild down-turn in the economy.
2007-09-04 06:38:09 · answer #5 · answered by soulguy85 6 · 0⤊ 0⤋
When the consumer quits buying "stuff" enough to slow down the "GDP".
2007-09-04 06:39:44 · answer #6 · answered by candlestick1st 4 · 0⤊ 0⤋