A recesszió, or recession, is an economic term that describes a significant decline in economic activity across the economy. It is typically identified by a decrease in Gross Domestic Product (GDP) for two consecutive quarters. During a recession, businesses may experience lower sales, leading to reduced production and potential layoffs, which can further decrease consumer spending. Recesszió can be caused by various factors, including high inflation, rising interest rates, or external shocks like a financial crisis. Governments and central banks often respond to recessions with measures such as lowering interest rates or implementing stimulus packages to encourage economic growth and recovery.