Recent Recession

When there is a decline in the global growth up to three percent then it is referred as a global recession. The estimation of the global recession is done by the International Monetary Fund. The economic recession history of the world shows that there is a global recession in the gap of normally eight to ten years. The economists at the International Monetary Fund state that if there is a deceleration in the global growth up to three percent or even less than that, then it should be deemed as global recession. According to the history of recessions maintained by the International Monetary Fund, the recessions during the last thirty years showed a negative or zero output growth in the international per capita income. After the great Depression in 1985, three more periods could be referred to be global recession in the recession’s history i.e. recession of 1990 to 1993, 1998 recession and recession of 2001 to 2002.