In economics, a recession is a business cycle contraction, a general slowdown in economic activity. Economic recession definition of economic recession by. We use cookies to enhance your experience on our website, including to provide targeted advertising and track usage. Culture the city the city the business and financial centre of london is called the city or the city of london.
The erosion of a cliff or headland from a given point, as from the action of a waterfall. This is the british english definition of recession. However a number of economists still believe the economy is in a recession. Recession is a slowdown or a massive contraction in economic activities. Please help out and add a definition, then remove the text. A recession is 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 wholesaleretail sales. This may be triggered by various events, such as a financial crisis, an external trade shock, an adverse supply shock, the bursting of an economic bubble, or a largescale natural or. A significant fall in spending generally leads to a recession. In economics, a recession is a business cycle contraction when there is a general decline in economic activity.
The small business dictionary defines, explains, and crossreferences more than 1,800 key small business words, phrases, acronyms, and concepts, covering topics including small business finance, management, sales, startup, exit strategy, and growth. The business cycle dating committee at the national bureau of economic research nber provides a better way to find out if there is a recession is taking place. Recession is explained in detail and with examples in the economics edition of the herold financial dictionary, which you can get from amazon in ebook or paperback edition. Fullblown recessions are relatively uncommon for the. A depression is an extended recession that has years, not quarters, of economic contraction. The chronology identifies the dates of peaks and troughs that frame economic recession or. Synonyms for recession at with free online thesaurus, antonyms, and definitions. Translation of recession at merriamwebsters spanishenglish dictionary. Recession means a period of at least two quarters where real gdp or other economic factors decline significantly.
A temporary downturn in economic activity, usually indicated by two consecutive quarters of a falling gdp. Apr 22, 2020 a recession will also dampen a companys accounts receivable ar. Recession synonyms, recession antonyms merriamwebster. It covers an area in east central london north of the river thames, between blackfriars bridge and tower bridge. Meaning, pronunciation, picture, example sentences, grammar, usage notes, synonyms and more. From longman dictionary of contemporary english related topics. Oct 20, 2019 statisticians often define a recession as negative real gdp growth during two consecutive quarters. Customers who owe the company money may make payments slower, later, or not at all. The devastation of a depression is so great that the effects of the great depression lasted for decades after it ended. Audio pronunciations, verb conjugations, quizzes and more. A recession will also dampen a companys accounts receivable ar. Business a period of an economic contraction, sometimes limited in scope or. A recession is 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. Depression is when there is continuous and drastic recession in the countrys economy.
Such a slowdown in economic activities may last for some quarters thereby completely hampering the growth of an economy. The national bureaus business cycle dating committee maintains a chronology of the u. The downturn is not described as depression since the severity has not encompassed the levels of the great depression in the 1930s. Recession definition and meaning collins english dictionary. Recession definition for englishlanguage learners from. A recession is literally defined as the declining of the nations gdp, or gross domestic product, by a smaller amount than ten percent. Economic recession synonyms, economic recession pronunciation, economic recession translation, english dictionary definition of economic recession. Marked by high unemployment, stagnant wages, and fall in retail sales, a recession generally does not last longer than one year and is much milder than a depression. A recession is associated with high unemployment, slowing gross domestic product, and high inflation.
This committee determines the amount of business activity in the economy by looking at things like employment, industrial production, real income and wholesaleretail sales. The official nber definition of recession which is used to date u. Definition of business noun in oxford advanced learners dictionary. As dozens of companies go out of business, others are riding out the recession. The period from a peak to a trough is a recession and the period from a trough to a peak is an. Recessions synonyms, recessions pronunciation, recessions translation, english dictionary definition of recessions. Definition of recession written for english language learners from the merriamwebster learners dictionary with audio pronunciations, usage examples, and countnoncount noun labels. Information and translations of recession in the most comprehensive dictionary definitions resource on the web. A recession is a significant decline in activity across the economy, lasting longer than a few months. The chronology identifies the dates of peaks and troughs that frame economic recession or expansion. Jul 22, 2018 the business cycle dating committee at the national bureau of economic research nber provides a better way to find out if there is a recession is taking place. Recession article about recession by the free dictionary. Economic recession financial definition of economic recession.
The national bureau of economic research analyzes the united states economy to determine where it is in the business cycle. Therefore, it was announced that country xyz was in a state of recession. An economic recession is a significant decline in economic activity, real gpd, real income, employment, industrial production, and sales following a decline in the aggregate demand for at least two quarters. When measuring consumer and business attitudes towards the economy, economists discovered a high level of pessimism. Definition and synonyms of recession from the online english dictionary from macmillan education. Unemployment reaches 25%, housing prices plummet 30%, and prices fall 10%. Recession definition of recession by merriamwebster.
Period of general economic decline, defined usually as a contraction in the gdp for six months two consecutive quarters or longer. A recession is a period when the economy of a country is doing badly, for example. The nber in the united states defines a recession thus. A period of decreased business activity and high unemployment. Recession definition in the cambridge english dictionary. Statisticians often define a recession as negative real gdp growth during two consecutive quarters. Recessions generally occur when there is a widespread drop in spending an adverse demand shock. With a recession looming, consumers are spending less. Many financial institutions have their head offices in the city. The primary difference between recession and depression is that when the economic activities of the country declines, due to which the gdp falls for a few months is known as recession. Change your default dictionary to american english. The us market housing decline is pointed out to be one of the causes of the great recession. Although the term recession is well known, and its negative connotations for the state of the economy are typically understood by the general public, the actual definition of a recession is less clear. Recession noun definition and synonyms macmillan dictionary.
Customers who owe the company money may make payments slower, later. Definition of recession noun in oxford advanced learners dictionary. Recession legal definition of recession legal dictionary. Recession meaning in the cambridge english dictionary. Recession definition of recession by medical dictionary. Recession definition, the act of receding or withdrawing. A recession is a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real gdp, real. It is visible in industrial production, employment, real income and wholesale. The nbers 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. A recession is a significant decline in economic activity, lasting more than a few months in the business cycle, a recession is the period between the peak and the trough. Everyone talking about the poor sales of everything from cars to bouquets of flowers. Recession a temporary downturn in economic activity, usually indicated by two consecutive quarters of a falling gdp. The ceremonial filing out of clergy andor choir at the end of a church service. Recessions definition of recessions by the free dictionary.
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