North Carolina economists last week told The Charlotte Observer they’re increasingly concerned about an impending recession. The dreaded term is enough to send a shiver down the average American’s spine. For many Americans, an upcoming economic downturn would be the first major recession they’ve experienced as an adult. So, what is a recession? Recessions explainedDuke University professor and economist Connel Fullenkamp told the Observer that a recession, in simple terms, is a sort of rough patch for the economy. “A recession is a generalized dropoff in economic activity. People stop buying a…