Definition, Meaning & Synonyms
recession
noun
/rɪˈsɛʃən/
Definition
A period of temporary economic decline during which trade and industrial activity are reduced.
Examples
- During the recession, many people lost their jobs.
- The government took measures to stimulate growth after the recession.
- Historically, recessions can lead to reduced consumer spending.
Meaning
Recession refers to a significant decline in economic activity across the economy that lasts longer than a few months.
Synonyms
- downturn
- slump
- decline
- contraction
- depression
