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Exam Day: Aug 14
Recession is used both as countable and uncountable nouns.
A time when the economy of a country is not successful.
The latest report confirms that the economy is in recession.
(Source: CLD- 2nd Edition)
Spain’s recession deepened in the second quarter of the year as the economy shrank 0.4%, figures show.
That compares with a 0.3% contraction in gross domestic product (GDP) in the first three months of the year.
Despite the figures, Spain’s 10-year borrowing costs fell to 6.55% from last week’s record high of 7.5% on hopes of action from the European Central Bank. (BBC)
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