Akademik

depression

Period when excess aggregate supply overwhelms aggregate demand, resulting in falling prices, unemployment problems, and economic contraction. Bloomberg Financial Dictionary

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depression de‧pres‧sion [dɪˈpreʆn] noun [countable, uncountable]

1. ECONOMICS a long period of time during which there is very little business activity and a lot of people do not have jobs:

• The current economic depression can be turned around if companies can be persuaded to invest in the industry.

• The nation as a whole was suffering from a period of deep depression following a boom which had peaked six or seven years before.
— compare recession

2. the (Great) Depression the period from 1929 to 1934 during which economic activity was very low and unemployment reached very high levels in the US and Europe:

• The American silk market collapsed in 1929/30 following the onset of the Great Depression.

• Commodity prices were at their lowest since the Great Depression.

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depression UK US /dɪˈpreʃ^ən/ noun [C or U] ECONOMICS

► a recession (= time of low economic activity, when investments lose value, businesses fail and people lose their jobs) that lasts for a long period of time, usually several years: plunge/slide into depression »The Thirties saw the world plunge into depression.
»The Wall Street Crash of 1929 brought severe economic depression and hardship to Canada.
»This was a period of deep depression.
»For most of the 20th century, economists focused on understanding and controlling inflation and depressions.
»New mines are being developed and old mines reopened, lifting communities across Northern Nevada out of the depression left by the industry's last crash.

→ Compare BOOM(Cf. ↑boom), RECESSION(Cf. ↑recession), SLUMP(Cf. ↑slump)

● the Depression — Cf. the Depression

→ See Note RECESSION(Cf. ↑recession)

Financial and business terms. 2012.