slowdown

1. A reduction in economic growth or an actual decline in economic activity. A slowdown is likely to result in the Federal Reserve lowering short-term interest rates in order to stimulate the economy.
2. An intentional reduction in productivity by employees. For example, in 2000, pilots at United Airlines engaged in a slowdown that resulted in nearly 24,000 flight cancellations. The United pilots engaged in the slowdown in order to gain a better labor contract.