Actually I wanted to write an article about recession in my blog, but I had a doubt like – what is recession?

According to Wikipedia:

In economics, a recession is a general slowdown in economic activity in a country over a sustained period of time, or a business cycle contraction. During recessions, many macroeconomic indicators vary in a similar way. Production as measured by Gross Domestic Product (GDP), employment, investment spending, capacity utilization, household incomes and business profits all fall during recessions.

Today I got an e-mail stating that some countries are really affected by recession problems.

I am living in Dubai, UAE. As far as from my side I can see lots n lots of changes for the past 3 months. I can see a lot of people getting terminated, many companies getting shutdown, some companies planning to reduce staff salary and even some restaurants have introduced Buffet system with low cost.

Previously when we were looking for a room in Dubai, the rent was too high may be AED 6000 per month. But now we were able to see rooms for just AED 3000. Nowadays I can see lots of office to-let boards in and around Dubai.

There are some gossips like many of the people are withdrawing their children from school and moving to their native place because of the increase in school fees and cost of living.

So think twice to spend a single cent in anything guys.