Thursday, 28 October 2010
Double-Dip Recession
I hear and read the phrase Double Dip recession, yet no one has ever explained what it it means. So I looked it up. Its simple.
When gross domestic product (GDP) growth slides back to negative after a quarter or two of positive growth. A double-dip recession refers to a recession followed by a short-lived recovery, followed by another recession.
The causes for a double-dip recession vary but often include a slowdown in the demand for goods and services because of layoffs and spending cutbacks from the previous downturn.
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