 "In
economics, a depression is a
sustained, long downturn in one
or more economies. It is more
severe than a
recession, which is seen as
a normal downturn in the
business cycle.
Considered a rare but extreme
form of recession, a depression
is characterized by abnormal
increases in
unemployment, restriction of
credit, shrinking output and
investment, numerous
bankruptcies, reduced
amounts of
trade and commerce, as well
as highly volatile relative
currency value fluctuations,
mostly
devaluations. Price
deflation or
hyperinflation are also
common elements of a depression."
Source:
Wikipedia
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