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What is a recession?

What a timely question! We’ve all been hearing a lot about the recession in the news, but what exactly is a recession? According to the financial gurus that study this type of thing, a recession happens when our economy slows down. Simply put, lots of companies slow down production; so many people lose their jobs and spend less money. When a “downturn” like this lasts for six months or more, we know we’re in a recession. A recession ends when companies grow, more jobs are created, and people spend more money.

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