The microeconomic performance of firms within economies during any global crisis should be analyzed and used in conjunction with the macroeconomic indicators, to enable analysts and other experts to have more comprehensive informational data at their disposal to make critical decisions on the general overall economic performance of a country.
Investopedia (2011) describes a global recession as a significant decline in activity across economies that lasts more than a few months, as measured by the data from the gross domestic product (GDP), while the National Bureau of Economics according to Investopedia (2011), sees it technically as the occurrence of two consecutive quarters of negative economic growth, measured by the same macroeconomic standard. In order to ascertain the prevalence, absence, threat or passage of global recessions, according to Edgmand (1987), economists cite four economic goals: full employment, price stability, economic growth and external balance. When achieved, full employment provides greater amount of goods and services to society and reduces the expenditures associated with unemployment. ...Show more