Recession and Expansions - Recession

7 important questions on Recession and Expansions - Recession

What defines the duration of a recession?

It lasts at least 6 months, comprising 2 consecutive quarters.

What is the peak in economic terms?

It marks the highest point of the economy before it slows down.

What is the severity of a recession typically described as?

Decline is usually mild to moderate during a recession.
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How does unemployment behave during a recession?

Unemployment rises but remains manageable throughout the recession.

What happens to economic activity in a recession?

Economic activity slows down significantly during this period.

What does trough signify in economic terms?

It indicates the end of a recession when the economy starts to recover.

How long does recovery from a recession usually take?

Recovery typically occurs within a year or two following a recession.

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