What is a Recession? Recession Explained 2024 | How to prepare for a recession 2024

Have you ever wondered what a recession is? In this video, we’ll cover everything you need to know about a recession and ways to prepare for a recession.

A recession is a period of economic decline characterized by a decrease in gross domestic product (GDP) which is a measure of the total value of goods and services produced by an economy. It can also include decreases in income, employment, and trade, usually lasting for at least two consecutive quarters. Recessions are generally caused by a variety of factors, such as a drop in consumer demand, reduced levels of investment, or a financial crisis.

Sources:
The Balance. (2021). What Is a Recession? Definition and Examples. https://www.thebalance.com/what-is-a-recession-definition-and-examples-3305669
Federal Reserve Bank of St. Louis. (2021). Recession. https://fred.stlouisfed.org/categories/32260
CNBC. (2021). How to prepare for a recession: Here's what you can do to get ready. https://www.cnbc.com/2021/04/22/how-to-prepare-for-a-recession-heres-what-you-can-do-to-get-ready.html
Forbes. (2021). 5 Ways To Prepare For A Recession. https://www.forbes.com/advisor/personal-finance/how-to-prepare-for-a-recession/

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