SSC MTS EXAM

Detailed explanation-1: -re·ces·sion. A period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters. From Oxford Dictionaries. Recessions can be daunting, particularly when the economic downturn catches you and your business unawares.

Detailed explanation-2: -A recession is a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.

Detailed explanation-3: -Signs of a Recession Measurable levels of spending and investment are likely to drop, and a natural downward pressure on prices may occur as aggregate demand slumps. GDP declines, and unemployment rates rise because companies lay off workers to reduce costs.