Download the dataset below to solve this Data Science case study on Recession.
Recession: Case Study
Recessions are periods of economic contraction having a significant impact on various industries. Typically, a recession is characterized by a significant decline in the gross domestic product (GDP) over a time period, leading to widespread unemployment, loss of income, and reduced business activity.
Here is a dataset of the monthly GDP of the United Kingdom from 2020 to 2022. Below are all the features in the dataset:
- Time Period: Monthly time period
- GDP Growth: The growth rate of GDP every month
As every decline in the GDP growth rate is not a recession, your task is to identify the months in which the UK faced a recession between 2020-2022.