Definition, Meaning & Synonyms
industry-downturn
noun
/ˈɪndəstri ˈdaʊnˌtɜrn/
Definition
A period during which the economic performance of a specific industry declines, often characterized by reduced profits, lower sales, or job losses.
Examples
- The automotive sector experienced an industry downturn, leading to significant layoffs.
- During the recession, many industries faced a downturn, affecting countless workers.
- Investors are concerned about the potential for an industry downturn in the technology sector.
Meaning
An industry downturn refers to a time when a particular sector is facing challenges that negatively impact its financial health and overall activity.
Synonyms
- economic decline
- recession
- market downturn
- sector contraction
