In April 2009, IMF had changed their Global recession definition to "A decline in annual percapita real World GDP (purchasing power parity weighted), backed up by a decline or worsening for one or more of the seven other global macroeconomic indicators: Industrial production, trade, capital flows, oil consumption, unemployment rate, percapita investment, and percapita consumption." By this new definition, a total of four global recessions took place since World War II: 1975, 1982, 1991 and 2009. All of them only lasted one year, although the third would have lasted three years (1991–1993) if IMF as criteria had used the normal exchange rate weighted percapita real World GDP rather than the purchase power parity weighted percapita real World GDP.
In April 2009, IMF had changed their Global recession definition to "A decline in annual percapita real World GDP (purchasing power parity weighted), backed up by a decline or worsening for one or more of the seven other global macroeconomic indicators: Industrial production, trade, capital flows, oil consumption, unemployment rate, percapita investment and percapita consumption." By this new definition, a total of four global recessions took place since World War II: 1975, 1982 1991 and 2009 All of them only lasted one year, although the third would have lasted three years (1991–1993) if IMF as criteria had used the normal exchange rate weighted percapita real World GDP rather than the purchase power parity weighted percapita real World GDP.