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16 kwi 2024 · A recession is a significant, pervasive, and persistent decline in economic activity. Economists measure a recession's length from the prior expansion's peak to the downturn's...
There is no official definition of recession, but there is general recognition that the term refers to a period of decline in economic activity. Very short periods of decline are not considered recessions.
The NBER, a private economic research organization, defines an economic 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 ". [16]
19 lut 2024 · There is no official, globally recognized definition of a recession. In 1974, US economist Julius Shiskin described a recession as “two consecutive quarters of declining growth”, and many countries still adhere to that.
21 lip 2022 · The National Bureau of Economic Research (NBER) Business Cycle Dating Committee —the official recession scorekeeper—defines a recession as “a significant decline in economic activity that...
The NBER's definition emphasizes that a recession involves a significant decline in economic activity that is spread across the economy and lasts more than a few months. In our interpretation of this definition, we treat the three criteria—depth, diffusion, and duration—as somewhat interchangeable.
13 lut 2024 · Official Recession Definition. During a recession, the economy struggles, people lose work, companies make fewer sales and the country’s overall economic output...
