Welcome to Banning. California. The City of Banning is strategically located astride Interstate 10 in the San Gorgonio Pass. The City, incorporated in 1913, has a rich and colorful history. Initially, Banning served as a stagecoach and railroad stop between the Arizona territories and Los Angeles.
A period of general economic decline; typically defined as a decline in GDP for two or more consecutive quarters. A recession is typically accompanied by a drop in the stock market, an increase in unemployment, and a decline in the housing market.
A period of time in which gross domestic product (GDP) declines. Also called negative growth. Compare to Economic Expansion. Use this term in a sentence â You should try to figure out a way to make the economic contraction work for you so that you can improve from it.