Depression

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Depression

Period when excess aggregate supply overwhelms aggregate demand, resulting in falling prices, unemployment problems, and economic contraction.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Depression

A particularly long and/or deep recession. While there is no technical definition of a depression, conventionally it is defined as a period featuring severe declines in productivity and investment and particularly high unemployment. During the Great Depression, for example, GDP in the United States dropped 12% between 1929 and 1930 and a further 16% the following year. Likewise, unemployment rose to more than 25% nationwide and higher in some places.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

Depression.

A depression is a severe and prolonged downturn in the economy. Prices fall, reducing purchasing power. There tends to be high unemployment, lower productivity, shrinking wages, and general economic pessimism.

Since the Great Depression following the stock market crash of 1929, the governments and central banks of industrialized countries have carefully monitored their economies. They adjust their economic policies to try to prevent another financial crisis of this magnitude.

Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.

depression

see BUSINESS CYCLE.
Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson

depression

a phase of the BUSINESS CYCLE characterized by a severe decline (slump) in the level of economic activity (ACTUAL GROSS NATIONAL PRODUCT). Real output and INVESTMENT are at very low levels and there is a high rate of UNEMPLOYMENT. A depression is caused mainly by a fall in AGGREGATE DEMAND and can be reversed provided that the authorities evoke expansionary FISCAL POLICY and MONETARY POLICY. See DEFLATIONARY GAP, DEMAND MANAGEMENT.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
References in periodicals archive ?
More than the cyclone, a heat wave can be extremely detrimental to the lives of the people in coastal Sindh, particularly those below the poverty line who do not have access to resources to keep themselves cool in this unbearable heat.
On the other hand, there is no threat imminent from Cyclone Vayu for Karachi's coast for the time being; however, the metropolis' maritime boundary may experience flooding and waves can go as high as 12 feet.
However, as the intensity of the tropical cyclone is expected to persist in the next 24 hours, heatwave will continue in Karachi in the coming few days.
In a press release, Western Railways had said, "Various safety and security precautions are also being taken by Western Railway for train passengers of these cyclone prone areas under the jurisdiction of Western Railways i.e.
The Cyclone Warning center added that the tropical cyclone does not pose any threat to the coastal areas of Karachi, but fishermen have been warned to stay away from the sea for at least the next 36 hours.
This heat is the source of energy for cyclone formation and the ocean waters is the source of moisture.
They stated that over 1,000 health facilities and nearly 5,800 schools suffered damage due to the cyclone, and Puri saw extensive damage.
Statistics in Bangladesh show cyclone losses have successively been lowered with developing disaster management, media awareness, meteorological capacity buildup and evacuation and rescue operations.
As of Saturday morning, less than 10 deaths were reported from the 175-kmph cyclone that made landfall in Odisha on Friday.
The Tropical Cyclone Kenneth made landfall between Macomia and Quissanga killing three people on the Grand Comore Island injuring scores of others and leaving thousands displaced.
THE death toll from Cyclone Kenneth in northern Mozambique has risen to 38, as flooding and pounding rains hampered efforts to deliver aid to badly hit communities several days after the storm.