Definition, Meaning & Synonyms
downturn
noun
/ˈdaʊnˌtɜrn/
Definition
A decline in economic activity or a decrease in value.
Examples
- During the recession, the country experienced a significant downturn in economic growth.
- The company faced a downturn in sales due to the pandemic.
- Experts predict a downturn in the housing market next year.
Meaning
Downturn refers to a period when there is a reduction in economic or financial activity, often leading to a recession or a slowing of growth. It typically impacts businesses, employment rates, and overall consumer confidence.
Synonyms
- decline
- recession
- decrease
- slump
- drop
