recession

 
Pronunciation: /rɪˈsɛʃ(ə)n/

noun

  • 1a period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters: the country is in the depths of a recession [mass noun]: measures to pull the economy out of recession
  • 2 [mass noun] chiefly Astronomy the action of receding; motion away from an observer.

Derivatives

recessionary

adjective

Origin:

mid 17th century: from Latin recessio(n-), from recess- 'gone back', from the verb recedere (see recede)