- A temporary downturn in economic activity, usually indicated by two consecutive quarters of a falling GDP. Bloomberg Financial Dictionary
* * *recession re‧ces‧sion [rɪˈseʆn] noun [countable, uncountable] ECONOMICSa period of time when an economy or industry is doing badly, and business activity and employment decrease. Many economists consider that there is a recession when industrial production falls for six months in a row:
• The economy is heading into a recession.
• Analysts concluded that the US would get out of recession and interest rates would rise.— compare depression— recessionary adjective :
• We're in a recessionary period.ˌdouble-dip reˈcession ECONOMICSa recession in which the economy begins to grow after a recession but then falls into a second recession before growing again
* * *A period of static or negative economic growth. Various nations have differing definitions but the US definition of two succeeding quarters of negative growth is widely used.
* * *recession UK US /rɪˈseʃən/ noun [C or U]► ECONOMICS a period, usually at least six months, of low economic activity, when investments lose value, businesses fail, and unemployment rises: »
The experts predicted recession in the coal industry.»
The retail sector is now in recession.»
a deep/shallow/mild depressionenter/fall into/slide into (a) recession »
The economy has entered a deep recession.recover from/pull out of (a) recession »
The industry is recovering fast from what has proved to be a mild recession.
Financial and business terms. 2012.