the.com/recession
the economy holding its breath while everyone argues whether it's actually happening
means A significant, widespread decline in economic activity lasting more than a few months, typically visible in falling output, spending, and employment.
from From Latin recessus, the past participle of recedere — 'to go back, withdraw' — from re- ('back') plus cedere ('to go,' the same root that gives us 'cede' and 'proceed'). The word first meant a literal drawing-back or retreating, and the architectural sense (a recess, a niche set back into a wall) shares the same lineage. Only in the early 20th century did economists borrow it to name the economy stepping backward — a tactful, almost euphemistic alternative to the blunter 'depression.'
- official call
- Declared by a committee months after it begins
- loose rule
- Two straight quarters of shrinking GDP, roughly
- lipstick effect
- Small luxuries sell better when budgets shrink
- hidden upside
- Many great companies are founded during downturns
- word origin
- From Latin meaning to step back
great recession — 2007-2009 financial crisis that caused 9 million job losses in the us
early 1980s recession — 1980-1982 downturn with us unemployment reaching 10.8%, highest since great depression
covid-19 recession — march-april 2020 contraction, shortest on record at 2 months, before rapid recovery