A temporary downturn in economic activity, usually indicated by two consecutive quarters of a falling GDP. Bloomberg Financial Dictionary
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a period of time when an economy or industry is doing badly, and business activity and employment decrease. Many economists consider that there is a recession when industrial production falls for six months in a row:
• The economy is heading into a recession.
• Analysts concluded that the US would get out of recession and interest rates would rise.
— compare depression — recessionary adjective :
• We're in a recessionary period.
ˌdouble-dip reˈcession ECONOMICS
a recession in which the economy begins to grow after a recession but then falls into a second recession before growing again
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A period of static or negative economic growth. Various nations have differing definitions but the US definition of two succeeding quarters of negative growth is widely used.
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recession UK US /rɪˈseʃən/ noun [C or U]
► ECONOMICS a period, usually at least six months, of low economic activity, when investments lose value, businesses fail, and unemployment rises: »
The experts predicted recession in the coal industry.
»The retail sector is now in recession.
»a deep/shallow/mild depression
enter/fall into/slide into (a) recession »The economy has entered a deep recession.
recover from/pull out of (a) recession »The industry is recovering fast from what has proved to be a mild recession.
Financial and business terms. 2012.