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Are you in a depression or recession?

In: Australia in WW2, Germany in WW2, Economics [Edit categories]

Answer:

The world is in a big recession.

First answer by Lalithgeorge. Last edit by Lalithgeorge. Contributor trust: 973 Question popularity: 1 [recommend question].

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Which is worse recession or depression?
In general terms (as a rule of thumb): A recession is a decline in GDP for two or more quarters consecutively. A depression is a decrease in GDP of 10% or more in any given year. Therefore, a...
What is the difference between a recession and a depression?
A recession is a period of decline in economic activity (sometimes two quarters of down GDP) A depression is a recession lasting a long time/many periods of recessions
How does a depression differ from a recession?
A recession is a low point in the economy.A depression is an extreme low point in the economy that lasts a long period of time.We are at a recession, in the 1930's their was a depression in the US.
What is the difference between recession and a depression?
depression is when your sad and depressed reccion is the lose of value
Is recession the same thing as depression?
no, but close, It's right Above a depression