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Global Recession

Global Recession Definition

Global Recession means a period of global economic slowdown. The International Monetary Fund (IMF) defines global recession as a period where gross domestic product (GDP) growth is at 3% or less. Taking the benchmark of 3% into account, the last longer periods of international economic downturn occurred in 1990–1993, 1998, 2001–2002 and 2008–2009.







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