What is the difference between recession and depression ?

Question

What is the difference between recession and depression ?

Answer 1

Recession is when someone else loses their job.

Depression is when you lose your job!

Answer 2

A recession is usually defined in macroeconomics as a fall of a country's real Gross Domestic Product in two or more successive quarters of a year. A recession may also involve falling prices, called disinflation; alternatively it may involve sharply rising prices (inflation), in which case this process is known as stagflation. A severe or long recession is referred to as an economic depression or slump.

Answer 3

I think the difference is the number of quarters in decline. I'm thinking one quarter would be a recession where two quarters would be a depression. I'm not sure about the numbers, but I do know the difference is the number of quarters the economy has declined.

Answer 4

Recession leads to depression.



Recession is a gradually downward turn.

Depression is being as down as you can get so that the only way is up.



These two words are used in both economics and mental health fields.

Answer 5

Recesion is probably the beginning of the descent to bad things and Depression is just when things have just reached bad and remains low