Recessions generally occur when there is a widespread drop in spending, often following an adverse supply shock or the bursting of an economic bubble. In economics, a recession is a business cycle contraction, a general slowdown in economic activity. Macroeconomic indicators such as GDP, employment etc...Now usa news medias also discussing this matter.
A U.S. economy that plodded along in the first three months of the
year likely grew even less in the April-June quarter. And most
economists no longer think growth will strengthen much in the second
half of 2012. Read More.. 
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