Definition, Meaning & Synonyms
economic turmoil
phrase
/ɪˈkɒn.ə.mɪk ˈtɜːr.mɔɪl/
Definition
A state of significant disturbance in the economic stability and functioning of a country or region.
Examples
- The country faced severe economic turmoil after the financial crisis.
- During times of economic turmoil, businesses often struggle to survive.
- Governments must implement policies to stabilize the economy in times of economic turmoil.
Meaning
Economic turmoil refers to a period during which financial systems are highly unstable, leading to issues such as recession, high unemployment rates, and inflation. It usually affects consumer confidence and can lead to chaotic market conditions.
Synonyms
- economic instability
- financial crisis
- economic crisis
- economic upheaval
