What is a recession? recession definition:
1. Recession is a condition when a country's GDP declines for at least two quarters in a year.
2. Recession definition by US based NBER is a significant decline in economic activity spread across the economy.
What is the difference between a recession and a depression:
An economic depression is more severe and longer than an economic recession.
Sidney J. Harris said that a recession happens when your neighbours lose their jobs and a depression happens when you lose your job. So now is a recession or a depression?
In economic recession and depression, it's more crucial to use investor tool to decide which invest tools to invest our money. Based on your economy condition, current economy situation is already an economic depression or an economic recession? Recession or depression depends on the definition of depression and recession.