recession
noun
[ rɪˈsɛʃ(ə)n ]
• a period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.
• "the country is in the depths of a recession"
Similar:
economic decline,
downturn,
depression,
slump,
slowdown,
trough,
credit crunch,
credit squeeze,
stagnation,
stagflation,
hard times,
bust,
• the action of receding; motion away from an observer.
Origin:
mid 17th century: from Latin recessio(n- ), from recess- ‘gone back’, from the verb recedere (see recede).
