recessionnoun [ C or U ]
uk/rɪˈseʃ.ən/us/rɪˈseʃ.ən/B2 a period when the economy of a country is not successful and conditions for business are bad:
The country is sliding into the depths of (a) recession.
More examples
- A lot of companies have been adversely affected by the recession.
- For the second time in ten years, the government has driven the economy into deep and damaging recession.
- Demand for new cars has fallen due to the recession.
- Until recently the country's economy has been insulated from recession by its reserves of raw materials.
- The recession has led to many small businesses going bankrupt.
Thesaurus: synonyms and related words
Economics
- autarchy
- broad money
- Chancellor of the Exchequer
- consumer price index
- credit crunch
- depressed
- downturn
- expenditure
- GDP per capita
- GNI
- hyperinflation
- market forces
- mixed economy
- pecuniary
- protectionism
- retail price index
- spending
- stall
- trade figures
- upturn
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