Worried about an economic downturn? Here’s what you can expect in a typical recession, according to economists

Key Facts

• A recession is defined as “a significant decline in economic activity that is spread across the economy and that lasts more than a few months,” according to the National Bureau of Economic Research.
• THE RISK OF A RECESSION Economists are watching the economy closely and many are boosting their odds of a recession occurring in the near term.
• “The economy is slowing and it will be uncomfortable over the next 12 to 24 months, but I think we will make our way through it without a recession,” he said.
• A W-recovery is when the economy passes through a recession and into recovery and then immediately enters another recession, and K-shaped means some parts of the economy recover more quickly than others.

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