A recession is a general downturn in any economy. A recession is associated with high unemployment, slowing gross domestic product, and high inflation.
Economic Recession Definition
Economic recession is a period of general economic decline and is typically accompanied by a drop in the stock market, an increase in unemployment, and a decline in the housing market. Generally, a recession is less severe than a depression. The blame for a recession generally falls on the federal leadership, often either the president himself, the head of the Federal Reserve, or the entire administration.
