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.
Letâs start by defining a recession. As I mentioned, there are several commonly used definitions of a recession. For example, journalists often describe a recession as two consecutive quarters of declines in quarterly real (inflation adjusted) gross domestic product (GDP). The definition used by economists differs.he website also defines a recession as: 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.