What to Know About Recessions, Including the Next One

Economists now see a one-in-three chance that the U.S. economy is headed into recession in the next year, following its longest expansion in history. Germany, the biggest economic engine in the European Union, is on the brink. Worries are growing even in Australia, which has gone a remarkable 28 years without a downturn. So much time has passed since the Great Recession of 2007-2009 that many adults haven’t experienced an economy that’s contracting rather than growing in their working lives. But slowing global growth and the U.S.-China trade war, among other strains, have flamed fears that the next recession is around the corner.

Eventually, yes -- recessions follow expansions, and vice versa. The real questions are when the recession hits, how long it lasts and how severe it is.