How Can You Survive During an Economic Recession
An economic slowdown can happen at any time so you should be prepared for it. Here a few tips so you donít get caught with your pants down until things get better.
How to Survive the Economic Recession
People in the prehistoric times are not the only ones in survival mode. Nowadays, people all over the world especially in the United States are feeling the heat of the prevailing economic recession. With the sudden downturn of the economy, a lot of people are more hard up than they were in previous years. Some have even lost their jobs or have lost their homes because of the real estate crash in recent months. The problem with rising costs of gas has also affected the prices of food and other products. Times right now are tighter and harder.
What is an Economic Recession
What is an economic recession? This occurs when there is a significant decline in the economy which usually lasts for months. This is visible in terms of consumer spending, employment, industrial production, real income and wholesale trade. A technical indicator of this is 2 consecutive quarters of negative growth which is measured by the countryís GDP or gross domestic product.