Banking Term: Recession
Find important banking term that is useful in upcoming banking exam.
• 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