Two G7 economies, Japan and the UK, slipped into recession as consumer spending slowed, marking the UK's slowest growth since 2009 and Japan's drop to the fourth largest economy globally. While the World Bank's Global Economic Prospects report sees reduced risks of a global recession in 2024, the outlook remains sluggish due to lingering COVID-19 fallout, geopolitical tensions, and high inflation. Recession, characterised by declining economic activity, lacks a universal definition, with factors like unemployment rates serving as indicators. Recovery strategies include central bank interest rate adjustments and government interventions, with lingering uncertainties amid elevated geopolitical risks and major elections.