What ONLINE NFF RESOURCES are available to help my nonprofit manage through the recession?
• Additional resources What is the difference between a downturn, a recession and a depression? Downturn: a short-term decline in economic activity. Recession : a significant decline in economic activity spread across the economy, lasting more than a few months. Traditional indicators include real Gross Domestic Product (GDP), real income, employment, industrial production and wholesale-retail sales. The National Bureau of Economic Research (NBER) ultimately decides whether the economy has fallen into recession. The start of a recession can only be seen in the rear-view mirror. Depression: a longer, more severe recession. It is loosely defined as an economic downturn where GDP declines dramatically, usually by more than 10%. When did this recession begin and end? On Monday, December 1, 2008, NBER announced the United States had been in recession since December 2007. The recession officially ended in June 2009. Why is this recession different? The severity and length remains in question
