Home  | Term of the Day | |||
| recession A period of general economic decline; typically defined as a decline in GDP for two or more consecutive quarters. A recession is typically accompanied by a drop in the stock market, an increase in unemployment, and a decline in the housing market. A recession is generally considered less severe than a depression, and if a recession continues long enough it is often then classified as a | ||||
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| Usage Example Unfortunately due to the recession, our company was forced to make budget cuts that included layoffs and store closings just to stay in business. | ||||
Term of the Day
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Join date : 2013-01-12
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