›a situation in which prices, levels, rates, etc. go down, or in which a situation gets worse and is difficult to control because one bad event causes another: a spiral of sthThe world's two biggest economies are caught in a spiral of borrowing.This year's downward spiral of house prices has depressed the market.My former colleagues have been stuck in a spiral that continues to say, the only way we can continue our profit margins is to cut good journalism, and that is to me a death spiral.