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Economics Glossary ToolsEconomics Glossary - Main PageTerms Beginning With RThe Full Set of Terms More Economics LinksMacroeconomics Resources Microeconomics ResourcesEconometrics Resources "Recession"From Econterms Definition: A recession is defined to be a period of two quarters of negative GDP growth.
Thus: a recession is a national or world event, by definition. And statistical aberrations or one-time events can almost never create a recession; e.g. if there were to be movement of economic activity (measured or real) around Jan 1, 2000, it could create the appearance of only one quarter of negative growth. For a recession to occur the real economy must decline.
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Economics Glossary ToolsEconomics Glossary - Main PageTerms Beginning With RThe Full Set of Terms More Economics LinksMacroeconomics Resources Microeconomics ResourcesEconometrics Resources |
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