recession
noun [ C or U ]
uk/rɪˈseʃən/ us 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.
Compare
depression
See also
double-dip recession