An "L-Shaped Recovery" refers to a type of economic recovery that follows a sharp decline, where the economy experiences a steep drop and then remains stagnant for an extended period. This pattern resembles the letter "L," indicating that after the initial downturn, there is little to no growth for a significant time before any recovery begins. This type of recovery can occur after severe recessions or crises, such as the 2008 financial crisis. Unlike a V-shaped recovery, which quickly rebounds, an L-shaped recovery suggests that it may take years for the economy to return to pre-crisis levels, impacting businesses and employment rates.