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English definition of “recession”

recession

noun [C or U]     /rɪˈseʃ.ən/
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 noun from the Cambridge Advanced Learner's Dictionary & Thesaurus © Cambridge University Press)
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