recession

n. slow economy, period characterized by a decline in the gross domestic product during two or more consecutive quarters; ebb, decline; withdrawal, act of receding

<references/> ''' In macroeconomics, a recession is a decline in any country's Gross Domestic Product (GDP), or negative real economic growth, for two or more successive quarters of a year. However, this definition is not universally accepted. The National Bureau of Economic Research defines a recession more ambiguously as "a significant decline in economic activity spread across the economy, lasting more than a few months." A recession may involve simultaneous declines in coincident measures of overall economic activity such as employment, investment, and corporate profits. Recessions may be associated with falling prices (deflation), or, alternatively, sharply rising prices (inflation) in a process known as stagflation. A severe or long recession is referred to as an economic depression. A devastating breakdown of an economy is called economic collapse. Newspaper columnist Sidney J. Harris amusingly distinguished terms this way: a recession is when you lose your job; a depression is when I lose mine.
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Re·ces·sion n. The withdrawal or retreating of tissue from its normal position. recession, n a moving back or withdrawal. [more]Recession - Community and Resources

Noun
1. the state of the economy declines; a widespread decline in the GDP and employment and trade lasting from six months to a year
(hypernym) financial condition, economic condition
2. a small concavity
(synonym) recess, niche, corner
(hypernym) concave shape, concavity, incurvation, incurvature
(hyponym) pharyngeal recess
3. the withdrawal of the clergy and choir from the chancel to the vestry at the end of a church service
(synonym) recessional
(hypernym) procession
4. the act of ceding back
(synonym) ceding back
(hypernym) cession, ceding
(derivation) recede, fall back, retire
5. the act of becoming more distant
(synonym) receding
(hypernym) withdrawal
(derivation) recede

n. recession, depression, slump