State of Indian Economy
And if this is indeed the case whats the Govts plan to fix things? more
In the United States the National Bureau of Economic Research determines contractions and expansions in the business cycle, but does not declare depressions. Generally, periods labeled depressions are marked by a substantial and sustained shortfall of the ability to purchase goods relative to the amount that could be produced using current resources and technology (potential output). Another proposed definition of depression includes two general rules:
a decline in real GDP exceeding 10%, or
a recession lasting 2 or more years.
From your above slides:
Consumer Good Production growth rate of 1% is neither Recession nor Depression - it is Growth.
Reduction of exports by 1% is not Recession either.
Let's not get carried away . headlines in TV or Newspapers are meant to attract attention, and not to inform. more