Meaning of “diminution” in the English Dictionary

british dictionary

"diminution" in Business English

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diminutionnoun [ C or U ]

uk /ˌdɪmɪˈnjuːʃən/ us /-əˈnuː-/ formal

a reduction in size, importance, or value:

After an accident, a vehicle will suffer a diminution in value.

(Definition of “diminution” from the Cambridge Business English Dictionary © Cambridge University Press)