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What is a Recession?
A period of economic decline is typically defined as a decline in GDP for two or more consecutive quarters. A recession is typically accompanied by a drop in the stock market first, then an increase in unemployment, and finally a decline in the housing market. A recession is generally considered less severe than a depression, and if a recession continues long enough it is often then classified as a depression.
A period of economic decline is typically defined as a decline in GDP for two or more consecutive quarters. A recession is typically accompanied by a drop in the stock market first, then an increase in unemployment, and finally a decline in the housing market. A recession is generally considered less severe than a depression, and if a recession continues long enough it is often then classified as a depression.