during a Recession
Bernard Baruch said that its
a recession when your neighbour is out of work (adding that when youre
out of work its a depression!).
Although the recessions that
make the headlines are generally seen as all-encompassing and national in scope,
this definition obscures the fact that normal national economic conditions
are really an averaging of good times in some industries, bad times in others;
growth in some parts of the country and decline in others.
During a national recession
everyone gets hurt; but some sectors feel the heat more than others. Conversely,
during a period of expansion some markets reap greater benefits.