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depression definition - finance
An economic situation that is characterized by decreased business activity, high unemployment, and falling prices. Depressions are relatively infrequent occurrences in the United States. The most famous depression is the Great Depression that began with the collapse of the U.S. stock market in 1929 and continued until 1942, when production activity picked up to meet the demand for goods during World War II.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.

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