Recession Meaning and Definition
Recession
Pronunciation
/rɪˈsɛs.jən/
Part of Speech
Noun
Definition
A decline in the aggregate level of economic activity over a period of time, typically two or more consecutive quarters, measured by a decrease in gross domestic product, real GDP, or other indicators.
Examples
- The economic recession led to widespread layoffs and business closures.
- The government implemented stimulus packages to mitigate the effects of the recession.
Synonyms
- Economic downturn
- Slump
Antonyms
- Boom
- Bubble
Etymology
The term “recession” comes from the Latin “recedere”, meaning “to fall back” or “to decline”.
Usage Notes
Recession is often used to describe a decline in economic activity, but it can also refer to a decline in popularity or influence.
Cultural References
Recession has been referenced in popular culture, such as in films, TV shows, and music.
Idiomatic Expressions or Phrases
Some common idioms or phrases that include the word recession are “recession-proof”, “recession-era”, and “post-recession”.
Related Words or Phrases
Words or phrases closely related to recession include depression, downturn, slump, and slowdown.
Collocations
Common word combinations with the term recession include “recession-proof”, “recession-era”, and “post-recession”, as well as phrases like “recession hits”, “recession deepens”, and “recession ends”.
Frequency of Use
Recession is a commonly used term in economic and financial contexts, particularly during times of economic uncertainty or downturn.
Common Misspellings
Common misspellings of recession include “reclasification”, “reconstruction”, and “recessions”.