WHAT IS RECESSION

RECESSION   :-

                           Dictionary meaning of Recession is a period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarter.  

                            As per the National Bureau Economic Research (NBER) a recession is a significant decline in economic activity, normally visible in real GDP, real income,employment, industrial production, and wholesale - retail sale. A recession just begins just after the economic reaches a peak of activity and end as the economy reaches its trough. Between trough and peak, the economy is in an expansion. Expansion is the normal state of the economy ; most recession are brief and they have been rare in recent decades.

                          According to the economist , a healthy economy expands over time, so two quarters in a row of contracting output suggests there are serious underlying problem.