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The International Monetary Fund defines a global recession as "a decline in annual per‑capita real World GDP (purchasing power parity weighted), backed up by a decline or worsening for one or more of the seven other global macroeconomic indicators: Industrial production, trade, capital flows, oil consumption, unemployment rate, per‑capita investment, and per‑capita consumption".
At its most basic, a recession can be triggered by, among other things, higher asset prices, constricting supply, mistimed or ill-conceived economic or fiscal policy, rising unemployment, and ...
The COVID-19 recession was a global economic recession caused by COVID-19 lockdowns. The recession began in most countries in February 2020. After a year of global economic slowdown that saw stagnation of economic growth and consumer activity, the COVID-19 lockdowns and other precautions taken in early 2020 drove the global economy into crisis.
v. t. e. In economics, a recession is a business cycle contraction that occurs when there is a period of broad decline in economic activity. [1][2] Recessions generally occur when there is a widespread drop in spending (an adverse demand shock).
That may be why there's a rabid interest in projecting when the next recession will come. The benefits of such a call vary. It can help, or hurt, political parties amid an election year. It can ...
Recession Period. Start. End. Time Elapsed Total. The Great Depression–Late ’20’s and Early ’30’s. August 1929. March 1933. 3 years, 7 months. The Great Recession–aka The 2008 ...
The Great Recession was a period of market decline in economies around the world that occurred in 2007 to 2009. The scale and timing of the recession varied from country to country (see map). [1][2] At the time, the International Monetary Fund (IMF) concluded that it was the most severe economic and financial meltdown since the Great Depression.
The number of unemployed people worldwide could increase by more than 50 million in 2009 as the global recession intensifies, the ILO has forecast. [18] In December 2007, the U.S. unemployment rate was 4.9%. [19] By October 2009, the unemployment rate had risen to 10.1%. [20]