Japan and UK Witness Decline in Economy, Know Everything About Recession

What is Recession: Recently, Japan and the UK are currently going through a recession, which refers to a fall in the country’s economy, which eventually leads to a country shift into a recession period. In simple words, when the business of the country slows down, the country’s GDP starts to fall and keeps falling, known as recession. 

What is a Recession?

According to a formula by American economist Julius Shiskin, if a country’s GDP falls, it is considered that the country has come to a recession or is moving towards it. Similarly, the GDP growth of Japan and the UK is constantly falling for three quarters (nine months), leading to a negative GDP, due to which these two countries perfectly fit in the formula of Julius Shiskin.