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What Does Recession Means and It’s Feelings?
Posted by | Posted in Anything Goes | Posted on 27-10-2009
A common definition of recession is “An extended decline in general business activity, typically two consecutive quarters of falling real gross national product.”
or in more details
“A significant decline in activity spread across the economy, lasting longer than a few months. It is visible in industrial production, employment, real income and wholesale-retail trade. The technical indicator of a recession is two consecutive quarters of negative economic growth as measured by a country’s gross domestic product (GDP).”
What a common man can understand from this hi-fi definition?? Almost nothing?
Look at the following picture to realize what recession can be.
To avoid this situation save resources.
