what is a recession?
A recession is a significant decline in economic activity and is marked by a decrease in gross domestic product (GDP),
income, employment, and trade. It is typically characterized by a slowdown in economic growth, rising unemployment rates, and a decrease in consumer spending. Recessions can vary in duration and severity, but they are generally defined as two consecutive quarters of negative economic growth.
They can be caused by various factors such as a decrease in consumer confidence, a decline in stock markets, or a decrease in international trade.
Recessions can have a negative impact on businesses, individuals, and the overall economy, leading to decreased profits, job loss, and financial hardships.
Governments and central banks often take measures to stimulate the economy during a recession, such as lowering interest rates and implementing fiscal policies, in order to promote economic recovery.
