A recession is an economic downturn characterized by a significant decline in economic activity within a country or region.
It typically involves a decrease in gross domestic product (GDP), increased unemployment rates, reduced consumer spending, and decreased business investment.
Recessions can be caused by various factors, such as reduced consumer confidence, financial crises, external shocks, or economic imbalances.
Governments and central banks often implement fiscal and monetary policies to stimulate economic growth and recovery during recessions. Economic indicators, such as GDP growth, employment rates, and industrial production, are used to identify and measure recessions.