Editing Recession (section)

===Type of recession or shape===

{{Main|Recession shapes}}
The type and shape of recessions are distinctive. In the US, v-shaped, or short-and-sharp contractions followed by rapid and sustained recovery, occurred in 1954 and 1990–1991; U-shaped (prolonged slump) in 1974–1975, and W-shaped, or [[double-dip recession]]s in 1949 and 1980–1982. Japan's 1993–1994 recession was U-shaped and its 8-out-of-9 quarters of contraction in 1997–1999 can be described as L-shaped. [[Korea]], [[Hong Kong]] and South-east Asia experienced U-shaped recessions in 1997–1998, although [[Thailand]]'s eight consecutive quarters of decline should be termed L-shaped.<ref>{{cite web |url=http://www.adb.org/Documents/Books/Key_Indicators/2001/default.asp |title=Key Indicators 2001: Growth and Change in Asia and the Pacific |publisher=ADB.org |access-date=31 July 2010 |url-status=dead |archive-url=https://web.archive.org/web/20100317155544/http://www.adb.org/Documents/Books/Key_Indicators/2001/default.asp |archive-date=17 March 2010 }}</ref>