A V-Shaped economic recession describes the shape of the market's performance. It begins with a steep fall but then quickly find a bottom, turn back around and move immediately higher . It is used to measure employment, GDP and industrial output. Many economists use the V-Shape to forecast and analyze a country's health . A V-shaped recession is always mentioned as the best-case scenario. The recession of 1990 to 1991 and the recession of 2001---both of which only lasted eight months---are considered to be V-shaped recessions.
Check out this video describing V-Shaped recessions to learn more.