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What is a recession and how long will it last?
Political events, environmental disasters, trade shocks: There are many factors that could cause a country's economy to slow down. But what exactly is a recession—and how long do they last?
5 min read
The word “recession” has been popping up frequently in headlines lately, and it usually sounds alarming. In the aftermath of recent political and environmental events—the COVID-19 pandemic, Brexit, Russia’s invasion of Ukraine, and the European energy crisis, just to name a few—economies around the world are shrinking into recession. So, you might be wondering: What is a recession, exactly, and how bad will it be? First thing’s first: Don’t panic! It’s not as desperate as the headlines may seem. In this article, we’ll explain what a recession is, what happens during a recession, how long it lasts, and what you can do to weather the financial storm.