Why Risk and Compliance Costs Are Often Cut First in a Recession

April 1, 2024 ⚊ 1 Min read ⚊ Views 34 ⚊ BLOG

A recession is a period of economic decline, characterized by reduced consumer and business spending, lower income and profits, higher unemployment and inflation, and tighter credit conditions. The unofficial definition of a recession is two consecutive quarters of negative GDP. A recession can have a significant impact on various industries and sectors, including the risk and compliance industries.

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