Is a company: no
Is a proper noun: no
- hard times
- bad times
- rainy day
Definition of Recession
- A prolonged period of time (often defined as two successive quarters) in which economic activity declines or decreases.
Related Terms and Acronyms
- Employment Insurance (EI) — Acronym, Canada,
➥ Formerly known as Unemployment Insurance (UI).
- A Service Canada program where premiums are paid by taxpayers and benefits are provided for the unemployed.
- Economic Indicators — Definition,
- Statistics that help determine how the economy is faring. They include the Consumer Price Index, housing starts, and unemployment rates, among others.
- Inflation — Definition,
- A rise in the average level of prices in the economy.
- Stagflation — Definition,
- A time period where the unemployment rate and the rate of inflation are both relatively high.
- Microeconomics — Definition,
- Looking at the individual parts of the economy, with emphasis given to the market process and how it works.
- Depression — Definition,
- A prolonged downturn in the economy and level of business activity.
- Market Conditions — Definition,
- Factors that affect the sales of homes in an area, such as interest rates, the unemployment rate, home appreciation, weather and time of year.
- Disinflation — Definition,
- A reduction in the inflation rate as a result of either government policy or a decline in economic activity.
- Macroeconomics — Definition,
- A study of the economy as a whole, particularly the interaction of its various components.
- Unemployment Rate — Definition,
- The percentage of the labour force that is not employed but currently seeking work.