Clear, with a low around 58. West wind 9 to 14 mph becoming south southwest after midnight. Winds could gust as high as 18 mph.
Definition of recession: A period of general economic decline; typically defined as a decline in GDP for two or more consecutive quarters. A recession... Definition of recession: A period of general economic decline; typically defined as a decline in GDP for two or more consecutive quarters.
Related Terms. Period of general economic decline, defined usually as a contraction in the GDP for six months (two consecutive quarters) or longer. Marked by high unemployment, stagnant wages, and fall in retail sales, a recession generally does not last longer than one year and is much milder than a depression. Although recessions are considered a normal part of a capitalist economy, there is no unanimity of economists on its causes.