Definition of Double-Dip Recession
What is a "double-dip recession"? What is the definition of a "double-dip recession"?
The generally accepted definition of a "recession" is (at least) two straight quarters of negative GDP (Gross Domestic Product) growth.
A "double-dip recession" occurs when you have, in this order:
1. A recession.
2. A short period of growth.
3. Another recession.
A "double-dip recession" is also referred to as a "W-shaped" recession.
"Double-dip recessions" are extremely damaging, not only to the economy, but also to the moral of the citizens of a country.
Recessions are hard enough. Imagine believing that the economy is starting to recover, only to be met with news that the country has slipped into yet another recession.
The second recession in a "double-dip" recession is usually worse than the first, due to the fact that so many people are incredibly disheartened and pessimistic.
The United States (and the rest of the world) will be desperately trying to avoid a "double-dip" recession in the months and years ahead.
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