A global recession is characterized by a significant decline in economic activity across the world, lasting more than a few months. The International Monetary Fund (IMF) monitors global economic conditions and provides assessments. Previous global recessions include the 2008 financial crisis and the COVID-19 pandemic-induced recession.

Details:

• Historical Context: Previous recessions and their triggers, such as financial crises, pandemics, and geopolitical events.

• Factors to Consider: Economic indicators (GDP growth, unemployment rates), monetary policies, and global trade conditions.

• Data Sources: IMF reports, World Bank data, and economic analysis from major financial institutions.