Agencies American Economic Research (NBER), a private research organization, giving a definition of recession as follows: A significant decline in economic activity spread throughout the economy health, maintain at least a few months, normally visible through indicators such as production, employment, real income, and other indicators. A recession begins when the economy peaked growth and ends when the economy hit bottom. Meanwhile, there is no formal definition of the Great Depression, most economists see a depression is a severe recession with a decline in growth of 10% a year.
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