An economic downturn, usually characterized by a fall in the GDP and rising unemployment, is called

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A recession is defined as a period of economic decline, typically characterized by a decrease in GDP for two consecutive quarters (i.e., six months) and a rise in unemployment. A depression is a more severe and prolonged form of a recession. Keynesian economy refers to an economic theory that emphasizes the role of government intervention in stabilizing the economy, and hidden unemployment refers to individuals who are unemployed but not actively seeking employment, and therefore not included in official unemployment statistics. Inflation refers to the general increase in prices of goods and services over time.

An Economic Downturn, Usually Characterized by a Fall in the GDP