A recession occurs when GDP declines for four consecutive quarters.

Name: A recession occurs when GDP declines for four consecutive quarters.
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A recession is defined as 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. It does not necessarily require four consecutive quarters of negative growth, but rather a sustained contraction in the economy.

A Recession Occurs When GDP Declines for Four Consecutive Quarters