We hear the word Recession but do we really know what it means. Technically its “a contraction in economic activity”.

To be more specific its “a Significant decline in Economic activity that spreads across the economy and last more than a few months”.

Think about how you spend money now compared to last year. If you are pulling back, fewer dinners out, keeping the car or that dishwasher that needs replacing, you are part of the indicator of a recession.

Consumer spending makes up about 70% of the U.S economy. As you spend less so goes the industry with layoffs and downsizing.

Recessions are generally short lived and not always a bad thing. It slows down that speeding train not derails it.