This content has been automatically translated from Ukrainian.
Recession is a decline in economic activity when a country's GDP decreases for two consecutive quarters. During this time, production decreases, investments decline, and unemployment rises.
Stagnation is a prolonged period when the economy grows very little, but does not decline. The standard of living does not improve, and businesses find it difficult to develop.
Difference: recession is a decline, stagnation is a standstill.
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