What is an Economic Recession?

Recession: When there is general slowdown in economic activity a county experiences a recession. In such an economic cycle the Gross Domestic Product decreases, unemployment rises and while government spending usually increases until a country recovers from the recession.

During economic troughs people often find it hard to make a living and look for additional sources of income or tighten their budget. Some even falls into debts or have difficulties paying their mortgage.

Here you find plenty of useful tips how to survive a recession including budget tips and ideas for generating additional income such as writing for Bright Hub for example.

Image Credit: Mark Muller

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