DEMO — development content for layout testing. Not real editorial reporting.
DEMO content for development and layout testing — not real editorial reporting.
Business cycles alternate between expansions and contractions in economic activity. A recession is generally understood as a significant, broad-based and lasting decline.
How it works
Committees that date cycles in some countries look at employment, real income, consumer spending and industrial production as well as GDP, and announce turning points only after the fact.
Popular shorthand defines a recession as two consecutive quarters of falling output. Official dating bodies use a broader test.
What to watch
For businesses and policymakers, the depth and duration of a downturn usually matter more than whether it meets a formal definition.
Key concepts
- Business cycle
- Recession
