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Meaning of “understatement” in the English Dictionary

"understatement" in British English

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understatementnoun [S or U]

uk   /ˌʌn.dəˈsteɪt.mənt/  us   /ˌʌn.dɚˈsteɪt.mənt/
a statement that describes something in a way that makes it seem less important, serious, bad, etc. than it really is, or the act of making such statements: To say that her resignation was a shock would be an understatement - it caused panic. "It didn't go well? " "That's the understatement of the year/decade/century. It was a disaster."
(Definition of understatement from the Cambridge Advanced Learner’s Dictionary & Thesaurus © Cambridge University Press)

"understatement" in Business English

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understatementnoun [C or U]

uk   us   /ˌʌndəˈsteɪtmənt/
a statement that something is much smaller, much less important, or much less serious than it really is: It's an understatement to say the workers are worried about their futures.with understatement The report says with understatement, 'there is still much scope for reform'.understatement of the century/decade/year To say he's been busy would be the understatement of the year.
(Definition of understatement from the Cambridge Business English Dictionary © Cambridge University Press)
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