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the recession affected the european union during 2000 and 2001 and the united states in 2002 and 2003. some economists in the united states object to characterizing it as a recession since there were no two consecutive quarters of negative growth.

explanatio the recession affected the european union during 2000 and 2001 and the united states in 2002 and 2003. some economists in the united states object to characterizing it as a recession since there were no two consecutive quarters of negative growth.n: