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| Double Dip Recession |
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When the gross domestic product (GDP) growth slides back to negative after a quarter or two of brief positive growth. In other words, a recession followed by a short-lived recovery, followed by another recession. |
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The causes for a double-dip recession vary. However, they often include a slowdown in the demand for goods and services because of layoffs and spending cutbacks from the previous downturn.
A double-dip (or even triple-dip) is a worst case scenario. Fear that the economy will move back into a deeper and longer recession makes recovery even more difficult. |
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