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Right, they aren't the same. The '87 black friday crash made a big impact on the investment community, but it wasn't a recession. The commonly used U.S. defini
by rayshan 7y ago
Right, they aren't the same. The '87 black friday crash made a big impact on the investment community, but it wasn't a recession.
The commonly used U.S. definition is the one from NBER (National Bureau of Economic Research):
"A recession is a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales."
Here's a list of past recessions: https://www.nber.org/cycles.html https://www.nber.org/cycles.html