downturn
noun [ C, usually singular ]
uk/ˈdaʊntɜːn/ us(also downswing) ECONOMICS
a reduction in the amount or success of something, such as a country's economic activity:
economic/market downturn Thousands of workers have lost their jobs in the economic downturn.
There is evidence of a downturn in the housing market.
see/experience/suffer a downturn The company saw a downturn in sales over the last six months.
a serious/severe/sharp downturn
a global/world/general downturn
Compare
upturn