Macroeconomics
Macroeconomics is the branch of economics focused on large scale economic factors like performance, structure, behavior, and decision making of regional/national/global economies as a whole.
Recession Inflation Cycle
A recession is defined as a significant decline in economic activity throughout an economy, visible in the changes to the GDP, employment, industrial production, retail sales, etc.
One of the major causes of a recession is inflation, where there is a rise in the cost of goods and services over a period of time.
Detecting a recession
The standard macroeconomic definition of recession is negative GDP growth occurring across two consecutive quarters. Private companies will scale back to limit risk, and spending/investment declines significantly as prices slump in response to declining demand.