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English definition of “recession”

recession

noun [C or U]
 
 
/rɪˈseʃən/
ECONOMICS a period, usually at least six months, of low economic activity, when investments lose value, businesses fail, and unemployment rises: The experts predicted recession in the coal industry. The retail sector is now in recession. a deep/shallow/mild depressionenter/fall into/slide into (a) recession The economy has entered a deep recession.recover from/pull out of (a) recession The industry is recovering fast from what has proved to be a mild recession.
→ Compare depression → See also double-dip recession
(Definition of recession from the Cambridge Business English Dictionary © Cambridge University Press)
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