Understanding the recession
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What a recession is - and how you could be affected.
What is a recession?
A recession is defined as a reduction in a country's entire income and output (known as a Gross Domestic Product or GDP) over at least six months.
Recessions generally start because of a loss of confidence in the financial system. The previous UK recession, from 1990 to 1992, was followed by a long period of economic growth right up to 2008.
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