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A recession is a contraction phase of the business cycle, or "a period of reduced economic activity."[1][2] The U.S. based National Bureau of Economic Research (NBER) defines a recession more broadly as "a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP growth, real personal income, employment (non-farm payrolls), industrial production, and wholesale-retail sales."[3] A sustained recession may become a depression.
Some business & investment glossaries add to the general definition a rule of thumb that recessions are often indicated by two consecutive quarters of negative growth (or contraction) of gross domestic product (GDP).[4][5] Newspapers often quote this rule of thumb, however the measure fails to register several official (NBER defined) US recessions.[6]
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• 1 Attributes of recessions
• 2 Predictors of a recession
• 3 Responding to a recession
• 4 Central bank......

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Approximate Word Count: 16595
Approximate Pages: 67 (250 words per double-spaced page)

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