recessionnoun [ C or U ]uk /rɪˈseʃ.ən/ us /rɪˈseʃ.ən/
- 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.