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 recession occurs when there is a decline in the gross domestic product, or GDP, over two or more consecutive quarters.EFINITION of 'Recession'. A significant decline in activity across the economy, lasting longer than a few months. It is visible in industrial production, employment, real income and wholesale-retail trade.