Originally Posted by
njkayaker
Was there an expansion of the used marketplace recently (due to COVID)?
Is this a "contraction" or a return to normal levels?
Originally Posted by
mstateglfr
That seems like a distinction without a difference.
"Contraction" generally describes a reduction in overall economic activity as measured by variables such as GDP and Unemployment Rates. Casually speaking, though,
mstateglfr is correct: it doesn't matter whether the economy is returning to "normal" (whatever
that means) levels of activity or subnormal levels of activity. Job loss = contraction.