A Recession is a business cycle contraction which results in a general slowdown in economic activity that is a period of general economic decline for 6 months. During a recession, key economic indicators such as GDP (Gross Domestic Product), employment, consumer spending, business investment as well as a wide-ranging impact on individuals, businesses, and governments. (Refer to the Business Cycle (or Economic Cycle))
Related Definitions in the Project: The Commercial Definitions
Example Article of the Recession:
Looming Recession May Be The Energy Transition’s Biggest Threat (Source: Oil Price on 4 December 2022): By Irina Slav - Raw material costs and looming shortages: these have been the dangers on the path of the world’s energy system transition from fossil fuels to low-carbon alternatives. Until inflation and recession reared their twin heads. Since the start of the year, economies in Europe and North America, previously stalwarts of economic growth, even with hiccups such as the 2008 financial crisis, have been slowing down, and fears of runaway inflation have been rising. While most of the media attention in this respect has been focused on consumer prices because this is ultimately what people worry about, inflation has contributed substantially to the rising costs of transition metals and minerals as it has added to continued supply chain snags from the pandemic period and to a longer-term problem in mining: absence of investment in new capacity.
