Economic Downturn

An Economic Downturn refers to a period when the overall economic activity in a country or region declines significantly. During such times, key indicators like GDP, employment rates, and consumer spending typically decrease, leading to various negative effects such as increased unemployment, business closures, and financial instability. These downturns can be caused by multiple factors like global financial crises, poor governmental policies, or major geopolitical events. Understanding Economic Downturns is crucial for businesses, policymakers, and individuals, as it helps in making informed decisions to mitigate risks and capitalize on opportunities that may arise in difficult times.