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The Definition of Recession
http://www.businessopportunitiesandideas.co.uk/ 634/ the-definition-of-recession
There’s been a lot of talk about an economic recession recently so I’m going to be writing several posts about starting and running a business through a recession, but first I want to define what a recession is. A recession is commonly defined as a decline in a country’s gross domestic product (GDP), or negative real economic growth, for two or more successive quarters. Many economists dislike this definition however as it does not take into consideration changes in other variables such as changes in the unemployment rate or consumer confidence.
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