economic recession
C18528
concept
An economic recession is a significant, widespread, and sustained decline in economic activity, typically marked by falling GDP, rising unemployment, reduced consumer spending, and lower business investment.
Observed surface forms (1)
- short-term economic fluctuation ×1
Instances (3)
- Recession of 1937–1938
- early 1990s recession in the United States
- Kitchin cycles via concept surface "short-term economic fluctuation"