Recent stock market downturns and uncertainty surrounding how U.S. tariffs would impact the economy have many analysts predicting an upcoming recession. J.P. Morgan Research indicates there’s a 60 percent probability of a recession occurring in 2025. As of April 15, J.P. Morgan has maintained this call, despite recent tariff developments.
But what exactly is a recession? There’s no universal definition of a recession. But it’s often referred to as a period of widespread economic decline lasting more than six months and characterized by a drop in gross domestic product (GDP), increased unemployment, and reduced business activity.
