economic recessions

An economic recession is a period when the economy slows down significantly, leading to decreased business activity, higher unemployment, and lower consumer spending. It occurs when overall demand for goods and services drops sharply over a sustained period, often due to factors like financial crises, high inflation, or loss of consumer confidence. During a recession, companies may cut back on production, lay off workers, and reduce investments, which can further slow economic growth. Governments and central banks often try to stimulate the economy through policies like lowering interest rates or increased public spending to help recover from a recession.