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English definition of “recession”

recession

noun [C or U] uk   /rɪˈseʃ.ən/ us  
B2 a period when the economy of a country is not successful and conditions for business are bad: The country is sliding into the depths of (a) recession.Economics and the state of the economy
(Definition of recession from the Cambridge Advanced Learners Dictionary & Thesaurus © Cambridge University Press)
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