Banking Term: Recession

Find important banking term that is useful in upcoming banking exam.

Jun 25, 2015 17:16 IST
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• In economics, a recession is a business cycle contraction. It is a general slowdown in economic activity.
• Macroeconomic indicators such as GDP (gross domestic product), investment spending, capacity utilization, household income, business profits, and inflation fall, while bankruptcies and the unemployment rate rise.
• A significant decline in activity across the economy, lasting longer than a few months
• It is visible in industrial production, employment, real income and wholesale-retail trade

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