What Is Recession? Understand Its Meaning And Top FAQs
By Anshika Verma15, Feb 2024 10:30 AMjagranjosh.com
Understanding Recession
After slipping into recession, Japan lost its spot as the world’s third-largest economy. Let us understand the meaning of recession in simple terms and common FAQs. Tap to read!
What Is Recession?
In simple terms, recession is the term that is used to describe a slowdown in general economic activity.
How is It Identified?
As per macroeconomics, recessions are officially declared or recognised after two consecutive negative GDP growth rates.
What Happens In A Recession?
When a recession hits an economy, economic output, employment and consumer spending drop.
How Long It Can Last?
According to NBER data, the average US recession lasted for 17 months. However, post World War 2, the average recession lasted for 10 months.
How Many Recession India Has Faced?
India has faced 5 recessions. The year 2022- 21 was not a strong recession in the country.
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