definition of economic decline - Search
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    Any period of downturn
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    In economics, a decline refers to any period of downturn, ranging from a company's falling stock price to a country's falling GDP. A recession is a significant, pervasive, and persistent decline in economic activity that lasts for months or even years. Economists measure a recession's length from the prior expansion's peak to the downturn's trough. A recession is identified by 2 consecutive quarters of declining GDP. Six straight months of negative GDP growth is the standard definition for a recession.
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