Recession
in sentence
2506 examples of Recession in a sentence
They introduced a safety clause allowing a country to suspend the deficit ceiling in case of serious recession, but they went on to define a serious
recession
in such a way as to make such a suspension implausible in practice.
CAMBRIDGE – With November’s election in the United States fast approaching, the Republican candidates seeking to challenge President Barack Obama claim that his policies have done nothing to support recovery from the
recession
that he inherited in January 2009.
The full force of the fiscal stimulus package began to go into effect in the second quarter of 2009, with the US National Bureau of Economic Research officially designating the end of the
recession
as having come in June of that year.
A combination of deep recession, global economic dislocations, and effective nationalization of large swathes of the financial sector in the world’s advanced economies has deeply unsettled the balance between markets and states.
And, indeed, the trend has accelerated since the
recession
of 2009.
Indeed, the experience of the eurozone suggests that while concerted fiscal stimulus can make a difference during an acute recession, withdrawing that stimulus when it is no longer vital is preferable to maintaining it indefinitely.
With austerity – that is, reducing the deficit, once the
recession
has ended – recovery might take longer to become consolidated; but once it is, economic performance is even more stable, because the government’s accounts are in a sustainable position.
The free flow of capital from these regions’ SWFs to corporations in the advanced countries is crucial in order to balance the global economy and provide liquidity to financial markets, especially given the prospect of another
recession
in the West.
One camp argued that the
recession
in the United States would be V-shaped – short and shallow.
Others, including me, argued that, given the excesses of private-sector leverage (in households, financial institutions, and corporate firms), this would be a U-shaped
recession
– long and deep.
Today, 20 months into the US
recession
– a
recession
that became global in the summer of 2008 with a massive re-coupling – the V-shaped decoupling view is out the window.
This is the worst US and global
recession
in 60 years.
If the US
recession
were – as most likely - to be over at the end of the year, as is likely, it will have been three times as long and about fives times as deep – in term of the cumulative decline in output – as the previous two.
Today’s consensus among economists is that the
recession
is already over, that the US and global economy will rapidly return to growth, and that there is no risk of a relapse.
Data from the US – rising unemployment, falling household consumption, still declining industrial production, and a weak housing market – suggest that America’s
recession
is not over yet.
There are also now two reasons to fear a double-dip
recession.
A second reason to fear a double-dip
recession
concerns the fact that oil, energy, and food prices may be rising faster than economic fundamentals warrant, and could be driven higher by the wall of liquidity chasing assets, as well as by speculative demand.
So the end of this severe global
recession
will be closer at the end of this year than it is now, the recovery will be anemic rather than robust in advanced economies, and there is a rising risk of a double-dip
recession.
Global pandemics can spread faster; a lack of secure and sustainable energy could push us into a worldwide recession; and climate change, beyond its environmental consequences, could have serious geopolitical and social repercussions.
Domestic stabilization measures earlier this year bought her some time, yet fear of a
recession
remains.
The one piece of good news is that if a
recession
(or perhaps more likely a period of below-trend growth) is in the offing, banks are significantly more strongly capitalized than they were the last time.
Following the onset of the
recession
that followed the 2008 global financial crisis, China’s policymakers spent seven years replacing waning demand for their country’s net exports with a homegrown investment bubble, inflated by local governments’ aggressive land sales.
Although Japan continues to stagnate, and Western Europe hovers on the edge of recession, a solid "output-growth" recovery in the US should prove to be a big help in boosting demand in the rest of the world.
The continuation of rapid US productivity growth through the recent
recession
and into the subsequent low-wattage recovery is a very strong piece of evidence that America's long-run rate of GDP and productivity growth has shifted upward permanently, or, if not permanently, at least for a period of time likely to be measured in decades.
They responded that they had not rescued the truly bad speculative actor, Russia; that they had “bailed in,” not bailed out, the New York banks, by requiring them to cough up additional money to support South Korea’s economy; and that everyone had benefited massively, because a global
recession
was avoided.
Officials cannot say that a global
recession
has been avoided; that they “bailed in” the banks; that – with the exception of Lehman Brothers and Bear Stearns – they forced the bad speculative actors into bankruptcy; or that the government made money on the deal.
The downside of the sanctions imposed against Russia for its behavior in eastern Ukraine is that they may produce a
recession
throughout Europe and beyond.
However frightening the global recession, a coordinated and coherent response to it by the world’s political leaders remains highly uncertain at best.
More broadly, given Europe’s slide into
recession
and only a slow rise in world trade volume, renewed growth and stronger import demand in Japan would support global recovery.
One report by a Korean research institute shows that the Korean economy will slip into
recession
if the yen-dollar exchange rate nears 118, its average level back in 2007.
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