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Recession Essay

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Below is an essay on "Recession" from Anti Essays, your source for research papers, essays, and term paper examples.

A recession can be defined as a period of general economic decline. Typically in an economy if the GDP declines for two or more consecutive quarters, it would be considered to be in a recession. Typically during a recession there is a decline in the stock market, increase in unemployment rates and a decline within the housing market. A recession is considered to be less severe than a depression, however if it continues long enough it could be considered a depression. In general, a recession is caused by global events, fault economic policies by the Federal Reserve, the financial sector and consumers. In the past few years the United States also encountered a recession. According to the data provided by the Bureau of Economic Analysis the recession began in the third quarter of 2008 and continued all the way till second quarter of 2009.

In the year 2007, the economy started to show early signs of heading in a recession. Even though the real GDP was reported positive for all four quarters it was just a modest increase. In the first quarter 0.5%, second quarter 3.6%, third quarter 3.0% and fourth quarter 1.7% increase was reported. In the year 2008 the recession officially started. The first quarter reported a decrease in -1.8%, second quarter reported a slight increase of 1.3%. The third and fourth quarter of 2008 is when the real GDP took a steep decline of -3.7% and 8.9% respectively. At this point the economy was in a recession due to the fact that the GDP was at a decline for two consecutive quarters. In the year 2009 the recession continued till the first and second quarter with a negative GDP of -5.3% and -0.3% being reported respectively. For the first time in four quarters the economy started to signs of improvement with positive GDP being reported for the third quarter (1.4%) and fourth quarter (4.0%) of 2009. At this point the United States had recovered for the recession. In the year 2010 positive GDP was reported for all quarters. For the first quarter...

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Recession. Anti Essays. Retrieved December 16, 2018, from the World Wide Web: http://parimatch-stavka7.com/free-essays/Recession-348356.html


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