contraction

contraction definition - business

contraction

  1. A period of reduced business activity in the overall economy or a particular sector of the economy.
  2. Intentional reduction in the size of a company. For example, managers may decide to close a portion of the firm's manufacturing facilities.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

Comments
Improve this definition.
Do you have more to add? Share your linguistic knowledge or observation.
/Register to save your comments.