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Macro
Recession
Broad economic contraction; often defined by NBER in the US
Definition
Recession involves significant economic contraction with declining GDP, employment, and industrial production. In the US, NBER defines recessions as significant declines affecting the broad economy for at least two quarters.
Related Topics
#economic cycle
#gdp contraction
#unemployment
#economic slowdown
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Category: Macro
Macro economics studies large-scale economic factors including interest rates, GDP, inflation, and government policies.
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