recession

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Recession

A temporary downturn in economic activity, usually indicated by two consecutive quarters of a falling GDP. The official NBER definition of recession (which is used to date U.S. recessions) is: A recession is a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales. A recession begins just after the economy reaches a peak of activity and ends as the economy reaches its trough. Between trough and peak, the economy is in an expansion. Expansion is the normal state of the economy; most recessions are brief and they have been rare in recent decades. The start and end dates are determined by the Business Cycle Dating Committee of the National Bureau of Economic Research (NBER). It is a popular misconception that a recession is indicated simply by two consecutive quarters of declining GDP, which is true for most, but not all recession. NBER uses monthly data to date the start and ending months of recessions.

Recession

A prolonged economic retraction. While there is no technical definition of a recession, they are conventionally defined by two or more consecutive quarters of negative GDP growth. Recessions are marked by declines in productivity and investment and high unemployment. See also: Depression.

recession

An extended decline in general business activity. The National Bureau of Economic Research formally defines a recession as three consecutive quarters of falling real gross domestic product. A recession affects different securities in different ways. For example, holders of high-quality bonds stand to benefit because inflation and interest rates may decline. Conversely, stockholders of manufacturing firms will probably see company profits and dividends drop.
Case Study After nearly a year of falling commodity prices, rising unemployment, increasing personal and corporate bankruptcies, falling stock prices, and declining public confidence, the National Bureau of Economic Research made it official and on November 26, 2001, declared a recession. The announcement wasn't a surprise to hundreds of thousands of people who had lost their jobs and an even greater number of investors who had experienced substantial losses in the stock market. The bureau's Business Cycle Dating Committee of six academic economists determined the recession commenced in March 2001, when economic activity stopped growing. Although many economists use declines in gross domestic product to define a recession, the NBER Dating Committee examined employment, industrial production, manufacturing and trade sales, and personal income. The country's last previous recession lasted eight months and ended in March 1991. The subsequent ten-year period of uninterrupted growth between March 1991 and March 2001 was the longest in America's history.

Recession.

Broadly defined, a recession is a downturn in a nation's economic activity. The consequences typically include increased unemployment, decreased consumer and business spending, and declining stock prices.

Recessions are typically shorter than the periods of economic expansion that they follow, but they can be quite severe even if brief. Recovery is slower from some recessions than from others.

The National Bureau of Economic Research (NBER), which tracks recessions, describes the low point of a recession as a trough between two peaks, the points at which a recession began and ended -- all three of which can be identified only in retrospect.

The Conference Board, a business research group, considers three consecutive monthly drops in its Index of Leading Economic Indicators a sign of decline and potential recession up to 18 months in the future. The Board's record in predicting recessions is uneven, having correctly anticipated some but expected others that never materialized.

recession

see BUSINESS CYCLE.

recession

a phase of the BUSINESS CYCLE characterized by a modest downturn in the level of economic activity (ACTUAL GROSS NATIONAL PRODUCT). Real output and investment fall, resulting in rising UNEMPLOYMENT. A recession is usually caused by a fall in AGGREGATE DEMAND and, provided that the authorities evoke expansionary FISCAL POLICY and MONETARY POLICY, it can be reversed. See DEFLATIONARY GAP, DEMAND MANAGEMENT.

recession

Technically, two successive quarters of falling gross domestic product as judged by the National Bureau of Economic Research, a private nonprofit, nonpartisan research organization founded in 1920.Commonly,a time of general economic slowdown.

References in periodicals archive ?
Tooth lost and gingival recession as a risk factor of khat chewing in Yemen.
This practice has been directly related to dental and gingival injuries on the lingual aspect of the anterior lower teeth in cases of tongue piercing (17-19) and to buccal gingival recession in cases where the lip stud is located such that it can traumatize the gingiva (19,20) (Table 1).
In this study, the use of modified type I collagen membrane showed statistically significant gingival recession coverage and indicates that consistent improvement of gingival recession defects may be achieved by means of a modified collagen barrier membrane through GTR technique.
Clinicians currently have limited options to correct gingival recession.
Gingival recession, gingival bleeding, and dental calculus in adults 30 years of age and older in the United States [Electronic version].
There can be no assurance that Isolagen's clinical trials relating to autologous cellular therapy applications for the treatment of dermal defects or gingival recession can be conducted within the timeframe that Isolagen expects, that such trials will yield positive results, or that additional applications for the commercialization of autologous cellular therapy can be identified and advanced into human clinical trials.
Giannobile, DDS, DMSc provided 12 and 24 month follow-up results from the pivotal clinical trial for the Company's lead product, GEM 21S Growth-factor Enhance Matrix, for the treatment of periodontal disease and gingival recession.
15) Generally, such clinical parameters include probing depth (PD), bleeding on probing (BOP), clinical attachment level (CAL), degree of furcation involvement, extent of gingival recession, tooth mobility, and plaque score.
a biopharmaceutical company specializing in the development and commercialization of autologous (a patient's own) cellular therapy for hard and soft tissue regeneration ("the Isolagen Process"), today announced the results of a 6-month double-blind clinical study in which their proprietary treatment successfully reversed gingival recession and improved deep- periodontal pocketing.
The publication details the positive results of the pivotal trial for the Company's lead product GEM 21S(R), which was approved by the FDA in November 2005 for the treatment of periodontal disease and gingival recession.
NASDAQ: BMTI) announced today that it has received approval from Health Canada for the Canadian distribution and commercialization of its lead product, GEM 21S(R) for the treatment of periodontally-related bone defects and gingival recession.
Otis Bouwsma stated, "On a preliminary review of the data of the triple blind study, it is clear the patients we assume received Isolagen have had significant improvements in the two areas of treatment: the deep pocket areas and in the gingival recession areas.