Double-Dip Recession

Just when you think we’ve recovered from the last recession, it happens again.

A double-dip recession refers to the country’s gross domestic product (GDP) tanking in one recession, followed by a quarter or two of positive growth and happy days. Just when you think we are on the road to long-term recovery, the GDP tanks again.

Think of eating a double-dip ice cream where the top falls into your lap, you eat some of what’s left, and then the rest falls off the cone too.

The last big double-dip recession lasted from January-July 1980. We recovered for about a year and then dipped again from July 1981 until November 1982.