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The NBER’s Business Cycle Dating Committee defines a recession as “a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in production, employment, real income, and other indicators.
- Recession
The NBER’s Business Cycle Dating Committee defines a...
- Recession
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...
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]
11 lip 2024 · According to one popular definition, a recession is two consecutive quarters of economic contraction. And, in general, recessions are caused by imbalances in the market, triggered by external or internal factors.
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. However, the US has since opted to use a more open definition.
The NBER’s Business Cycle Dating Committee defines a recession as “a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in production, employment, real income, and other indicators.
27 wrz 2024 · recession, in economics, a downward trend in the business cycle characterized by a decline in production and employment, which in turn causes the incomes and spending of households to decline.
