Recession Explained ( Tagalog Version )

Recession is a period of economic decline characterized by a decrease in gross domestic product (GDP), an increase in unemployment, and a decline in industrial production, trade, and investment. It is typically measured as two consecutive quarters of decline in the GDP. Recessions can have a significant impact on individuals, businesses, and the overall economy, leading to decreased consumer spending, reduced business investment, and increased financial hardship for many people. Recessions are usually caused by a combination of factors, including monetary policy, fiscal policy, consumer spending patterns, and global economic conditions.