A period of reduced production and unemployment is an example of a recession.
- a going back or receding; withdrawal
- a procession leaving a place of assembly
- a receding part, as of a wall
- Econ. a temporary falling off of business activity during a period when such activity has been generally increasing
Origin of recessionClassical Latin recessio ; from past participle of recedere: see recede
Origin of recessionre- + cession
- The fact or action of moving away or back, especially:a. The erosion of a cliff or headland from a given point, as from the action of a waterfall.b. The reduction of a glacier from a point of advancement.c. The motion of celestial objects away from one another in an expanding universe.
- The period of economic decline from the peak to the trough of the business cycle, characterized by decreasing aggregate output and often by rising unemployment.
- The withdrawal in a line or file of participants in a ceremony, especially clerics and choir members after a church service.
Origin of recessionLatin recessi&omacron;, recessi&omacron;n-, from recessus, past participle of rec&emacron;dere, to recede; see recede1.
recession - Investment & Finance Definition
A period of slow economic growth. Defined by economists as two consecutive quarters of negative gross domestic product.