When does an economic recession become an economic depression?
Author: An economic recession is defined as two consecutive quarters of no growth in the GDP, or negative growth in the GDP. What is the definition of "Depression"?
An economic recession is defined as two consecutive quarters of no growth in the GDP, or negative growth in the GDP. What is the definition of "Depression"?
That’s interesting I want to see.
My only guess is when it lasts longer than it’s supposed to. I know the normal boom/bust cycle has a recession part, and the whole cycle should theoretically take 20 years for a full cycle. Maybe it’s when the recession part lasts longer than it should. That’s my guess, but don’t get mad if I’m wrong, that’s just my guessing, I really don’t know.