recession
/rɪˈsɛʃ(ə)n
/noun
1A 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 [mass noun]: measures to pull the economy out of recession...
- Economic recessions are predominantly the result of insufficient demand.
- This obviously buoys the market in good times and smooths its falls in recessions.
- As political economists have always emphasised, periodic recessions are endemic to capitalism.
Synonyms
economic decline, downturn, depression, slump, slowdown, trough, credit crunch, credit squeeze;
stagnation, stagflation;
hard times
informal bust
2 [mass noun] chiefly Astronomy The action of receding; motion away from an observer.The expansion of the Universe is described by a very simple equation called Hubble's law; the velocity of the recession of a galaxy is equal to a constant times its distance....
- In 1842 Doppler proved that the colour of a luminous body, like the pitch or note of a sounding body, must be changed by velocity of approach or recession.
- The velocity of recession is proportional to the distance from us.
Derivatives
recessionary
/ adjective ...- While some commentators seem to have made it their mission to hasten the country into a recessionary spiral, the views of the leading businesspeople serve as a timely antidote.
- This will make recessionary declines less severe and shorter, but it will not prevent economic downturns completely.
- This is designed to prevent a market collapse, which could have serious consequential effects in the current recessionary climate.
Origin
Mid 17th century: from Latin recessio(n-), from recess- 'gone back', from the verb recedere (see recede).