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The NBER does not define a recession in terms of two consecutive quarters of decline in real GDP.

Rather, a recession is a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.

By the time of William the Conqueror ‘Banesberie’ was mentioned in the Domesday book.

In the 13th century it had grown to become an important wool trading centre bringing wealth to the local population.