A recession is typically defined as two consecutive quarters of negative economic growth, as measured by a country's gross domestic product (GDP). A recession has a ripple effect on the global economy. For example, if a country's exports decline, that country's currency will also decline in value relative to other currencies. This can lead to inflation and higher interest rates, which can further ripple out to other countries. A recession can also lead to a decrease in demand for oil, which can lead to a decrease in oil prices and a decrease in the revenue and profits of oil-producing countries.