A recession refers to a significant and widespread decline in economic activity that lasts for an extended period. It is characterized by a contraction in key economic indicators such as GDP (Gross Domestic Product), employment, industrial production, and consumer spending. During a recession, businesses may face reduced demand, unemployment may increase, and financial markets may experience volatility. Recessions are typically caused by various factors such as financial crises, changes in economic policies, or global economic imbalances. Governments and central banks often implement measures to stimulate the economy and mitigate the impact of a recession.
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