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English definition of “recession”

recession

noun [C/U]  /rɪˈseʃ·ən/ us  
social studies a period when the economy of a country is not doing well, industrial production and business activity are at a low level, and there are many people unemployed: [U] The country is mired in recession. [C] The Japanese economy is experiencing its worst recession in 20 years.
(Definition of recession from the Cambridge Academic Content Dictionary © Cambridge University Press)
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