What is recession? Recession In economics, a recession is a business cycle; there is a general decline in economic activity due to a widespread drop in spending on PAS (Products And Services).
The recessions are caused by various reasons, numerous economic theories attempt to explain why and how an economy goes into recession. These theories can be broadly categorized as economic, financial, psychological, or a combination of these factors.
Economists at the National Bureau of Economic Research (NBER) measure recessions by looking at nonfarm payrolls, industrial production, and retail sales, among other indicators. Investors also look at a variety of leading indicators to predict recession. These include the ISM Purchasing Managers Index, the Conference Board Leading Economic Index, and the OECD Composite Leading Indicator.
■ UK Recession RC (Reference Collections)
▪︎ List of recessions in the United Kingdom: https://en.m.wikipedia.org/wiki/List_of_recessions_in_the_United_Kingdom
■ REFERENCES: ▪︎ recession: what is it and what causes it https://www.investopedia.com/terms/r/recession.asp | Recession: https://en.m.wikipedia.org/wiki/Recession | List of recessions in the United Kingdom: https://en.m.wikipedia.org/wiki/List_of_recessions_in_the_United_Kingdom