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global recession
A global recession is recession that affects many countries around the world—that is, a period of global economic slowdown or declining economic output.
== Definitions ==
The International Monetary Fund defines a global recession as "a decline in annual percapita real World GDP (purchasing power parity weighted), backed up by a decline or worsening for one or more of the seven other global macroeconomic indicators: Industrial production, trade, capital flows, oil consumption, unemployment rate, percapita investment, and percapita consumption".
According to this definition, since World War II there were only four global recessions (in 1975, 1982, 1991 and 2009), all of them only lasting a year (although the 1991 recession would have lasted until 1993 if the IMF had used normal exchange rate weighted percapita real World GDP rather than the purchasing power parity weighted percapita real World GDP).〔〔 The 2009 global recession, also known as the Great Recession, was by far the worst of the four postwar recessions, both in terms of the number of countries affected and the decline in real World GDP per capita.〔〔
Before April 2009, the IMF argued that a global annual real GDP growth rate of 3.0 percent or less was "equivalent to a global recession".〔Lall, Subir. "IMF Predicts Slower World Growth Amid Serious Market Crisis," International Monetary Fund, April 9, 2008. ()〕 By this measure, there were six global recessions since 1970: 1974–75,〔http://www.imf.org/external/pubs/ft/weo/2009/update/01/index.htm IMF Jan 2009 update〕 1980–83,〔 1990–93,〔 1998,〔 2001–02,〔 and 2008–09.
抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』
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