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A recession refers to a period of sustained economic downturn. They are often marred by increased unemployment, a decline in asset prices, as well as slumps in production and wages.

While no official definition of a recession exists, it is often said that a recession occurs when an economy's GDP (Gross Domestic Product), a measure of economic activity, declines for two consecutive quarters.


During the 2008 recession, the Dow Jones Industrial Average stock index lost more than half of its value. Source 

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