Recessziót

Recessziót is the Hungarian word for recession. A recession is a significant, widespread, and prolonged downturn in economic activity. It is typically characterized by a decline in gross domestic product (GDP), a rise in unemployment, and a decrease in industrial production and retail sales. While there is no single, universally agreed-upon definition, economists often consider two consecutive quarters of negative GDP growth as a sign of a recession.

Recessions can be caused by a variety of factors, including financial crises, natural disasters, geopolitical events, or a sudden drop in consumer or business confidence. They can have a substantial impact on individuals, businesses, and governments. During a recession, job losses are common, and businesses may struggle with reduced demand and profitability. Governments may implement fiscal and monetary policies to mitigate the effects of a recession, such as lowering interest rates or increasing government spending. The duration and severity of recessions can vary greatly. The term "recessziót" is used in Hungary to describe such economic downturns within their national context.