ECONOMIC SNAPSHOT: What's a recession?

November 2006
Oregon Business Magazine;Nov2006, Vol. 29 Issue 11, p44
The article explains the meaning of recession. Economic professors have traditionally defined recessions as two consecutive quarters of negative economic growth. The U.S. National Bureau of Economic Research, though, defines the term as a significant decline in economic activity spread across the economy which lasts for more than a few months.


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