A recession is a period of declining economic activity from "summary" of The Economics Book by DK
A recession is a period of declining economic activity. During a recession, there is a decrease in the overall economic output of a country, leading to a slowdown in growth and a rise in unemployment. This decline in economic activity is typically characterized by a decrease in consumer spending, investment, and business production. The causes of a recession can vary, but they are often linked to factors such as a decrease in consumer confidence, a decline in business investment, or external shocks such as financial crises or natural disasters. When these factors come together, they can create a downward spiral in the economy, leading to a recession. One of the key indicators of a recession is a contraction in the Gross Domestic Product (GDP) of a country. GDP measures the total value of all goods and services produced within a country's borders...
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