Recession
Recession is a condition in which the total real GDP of an economy shrinks (usually, for at least two consecutive quarters).
A recession provides an opportunity for marketers to closely review how much and in what ways they are spending their money. In a recession, marketers must explore the upside of possibly increasing investments, get closer to customers, review budget allocations, put forth the most compelling value proposition, and fine-true brand and product offerings.
Recession is the cyclical economic contraction that lasts for six months or longer.
Recession is a period when aggregate output is declining.
Recession is a period or cycle in which the level of economic activity declines for at least six months.
Webster Dictionary Meaning
1. Recession
- The act of receding or withdrawing, as from a place, a
claim, or a demand.- The act of ceding back; restoration; repeated cession; as, the recession of conquered territory to its former sovereign.
Category: Economics, Contemporary Business
More from this Section
- Net exports
Net exports is the net foreign spending on domestic goods services, equal to exports minus ... - Salary
Salary is the pay calculated on a periodic basis, such as weekly or monthly. ... - Devaluation
Devaluation is a downward change in the official parity of an exchange rate from that ... - Tort
Tort is a wrongful act, whether intentional or accidental (negligence), resulting in legal ... - Planned economy
An economic system in which all economic decisions are planned by a central government ...