Recession

What is a recession??
Recession is defined as a period of economic depression ; when the economy actually gets smaller. Generally, two months of decline in the GDP or a sharp rise in the unemployment rate, are red flags that a country is approaching, or in the middle of, such an economic contraction . In recession there will be a decrease of less than 10% in a country’s Gross Domestic Product (GDP). The decrease must last for more than one consecutive quarter of a year.