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A recession is a period of economic downturn. It is characterized by a fall in gross domestic product (GDP), an increase in unemployment, and a decline in business activity. Recessions are usually accompanied by a drop in the stock market and a reduction in household wealth. They can have a number of causes, such as a financial crisis, a recession in a major trading partner, or a decrease in consumer or business confidence. Recessions can have serious consequences for individuals and businesses,
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