Recession Meaning
Recession Definition & Usage
A significant decline in economic activity across a country or region, typically lasting for a period of time (two consecutive quarters of negative GDP growth). It is characterized by reduced consumer spending, lower production levels, and rising unemployment.
Examples
- "The country is currently in a recession, and many businesses are struggling to survive."
- "Due to the global recession, international trade has decreased significantly."
- "The economic recession led to a sharp rise in job losses, affecting thousands of workers."
- "Government intervention is often required during a recession to stimulate the economy."
- "During the recession, many families had to tighten their budgets and reduce spending."
A temporary withdrawal or retreat from a previous state or position, not necessarily related to economic contexts.
Examples
- "The recession of the river has left behind large, barren stretches of land."
- "There was a noticeable recession in the popularity of the brand after the scandal."
- "The recession of the tide revealed hidden beaches and rocky formations."
- "The recession of her enthusiasm made it clear she wasn’t interested anymore."
- "After the recession of the storm, the damage to the coastline was evident."
Cultural Context
Recessions are often part of the natural business cycle and can be triggered by various factors, such as a stock market crash, rising inflation, or geopolitical instability. They have been a key topic in economics, often prompting debates on the effectiveness of government intervention (such as fiscal or monetary policies). The most infamous recent recession, the 2008 financial crisis, had global implications, leading to widespread job losses, home foreclosures, and political change in many countries.
The Great Recession and the Town That Recovered
Story
The Great Recession and the Town That Recovered
It had been two years since the Great Recession struck, and the small town of Crestwood still bore the scars of the economic downturn. The once-thriving main street, filled with bustling shops and friendly faces, was now lined with boarded-up windows and 'for sale' signs. The local bakery, which had been a community hub, was now just a memory. People had lost jobs, homes were foreclosed, and families struggled to make ends meet. But amidst the gloom, a glimmer of hope emerged. Ella, a young woman who had returned to Crestwood after losing her job in the city, was determined not to give up. She had watched her parents' small hardware store survive the worst of the recession, thanks to their resilience and strong ties to the community. Inspired by this, she started organizing local farmers and artisans to create a weekly market. Slowly, people began to return to the town center, not just to shop but to reconnect. As the months passed, the market grew, and new businesses began to open their doors. The recession that had once cast a long shadow over Crestwood was slowly fading, replaced by a renewed sense of optimism. People were no longer just surviving; they were thriving again, and the town had rediscovered its heartbeat. But Ella knew that the recession’s lessons would stay with them. It had taught them the importance of community, resilience, and adaptability. And while the economy was recovering, the town was stronger for having faced the challenge together.
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