A global recession is a period of global economic slowdown.An extended period of international economic downturn. Generally, the International Monetary Fund (IMF) considers a global recession as a period where gross domestic product (GDP) growth is at 3% or less. In addition to that, the IMF looks at declines in real per-capita world GDP along with several global macroeconomic factors before confirming a global recession.
The Great Recession or the global recession of 2009 is a marked global economic decline that began in December 2007 and took a particularly sharp downward turn in September 2008.
The global recession has affected the entire world economy, with greater detriment to some countries than others. It is a major global recession characterised by various systemic imbalances and was sparked by the outbreak of the U.S. subprime mortgage crisis and financial crisis of 2007–08. The economic side effects of the European sovereign debt crisis,austerity, high levels of household debt, trade imbalances, high unemployment, and limited prospects for global growth in 2013 and 2014 continue to provide obstacles to full recovery from the Great Recession.
But always remember " Sun comes after a Dark night only"...So there is always a solution to fight with recession.
Who is responsible for this recession... Finding that man who started it ??
Check out my upcoming Blogs on this.....
Surbhi Maheshwari [MBA Fin / Mktg ]
Manager Finance
On Line Assistence :
Gtalk : SurbhiM.AeroSoft@gmail.com
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