In the UK, a recession is officially defined as 'negative economic growth for two consecutive quarters'. In short, a recession means a general decline in economic activity - production and sales. According to forbes.com : "You may lose your job during a recession, as unemployment levels rise. A recession tends to last less than a year but its impacts can be felt for a decade afterwards. He said: “A recession – two quarters of negative growth – remains unlikely.

Source: Forbes June 13, 2022 11:13 UTC