Glossary of economics research
Results of search for recession follow:
recession:
A recession is defined to be a period of two quarters of negative GDP growth.
Thus: a recession is a national or world event, by definition. And
statistical aberrations or one-time events can almost never create a
recession; e.g. if there were to be movement of economic activity (measured or
real) around Jan 1, 2000, it could create the appearance of only one quarter
of negative growth. For a recession to occur the real economy must
decline.
Contexts: macro
Back to top