All 3 Uses of
recession
in
The Hitchhiker's Guide to the Galaxy
- "Yes, through the economic recession, you see," said the old man, apparently unconcerned about whether Arthur understood a word he was talking about or not.†
Chpt 22
- Er, economic recession?†
Chpt 22
- "...so anyway," he said, trying to find his thread again, "the recession came and we decided it would save a lot of bother if we just slept through it."
Chpt 22 *recession = a period when the economy does poorly
Definition:
-
(recession as in: economic recession) a period when the economy does poorlyeditor's notes: Most people think of a recession as any period of two consecutive quarters of shrinking, real GDP.
Officially, a nonprofit organization, the National Bureau of Economic Research, determines when the U.S. economy has had a recession. Their proclamation is often a year after the recession started and almost never fails to call a recession indicated by the 2-quarter rule-of-thumb.