Recession

Definition

Recession primarily denotes a significant decline in economic activity across the economy, lasting longer than a few months.

Parts of Speech

• Noun

Pronunciation

American English

• IPA Pronunciation: /rɪˈsɛʃən/
• Respelling: ri-SESH-uhn (with "ri" as in "rid," "SESH" as in "session," and "uhn" as in "sun")

British English

• IPA Pronunciation: /rɪˈsɛʃən/
• Respelling: ri-SESH-uhn (similar to American English, with "ri" as in "rid," "SESH" as in "session," and "uhn" as in "sun")

In both dialects, "recession" is pronounced with the stress on the second syllable, "SESH." The pronunciation is consistent across both American and British English, clearly articulating each component of the word with emphasis on the "SESH" syllable.

Etymology

The term "recession" stems from the Latin word "recessio", which means "a going back or retreat". It originates from the verb "recedere", meaning "to go back", which is a combination of "re-", indicating backward motion, and "cedere", meaning "to go".

Derivatives

• Recessional
• Recessive
• Recessionary
• Post-recession
• Pre-recession

Synonyms

• Downturn
• Slump
• Economic decline

Antonyms

• Boom
• Expansion
• Growth

Usage

"Recession" is a term predominantly employed in the context of economics and finance. It refers to a period marked by a decrease in GDP, employment, and trade, typically lasting from six months to a year.

Related Terms

• Depression
• Economic cycle
• Contraction

Detailed Definition

Noun

• A significant reduction in economic activity across the economy that lasts longer than a few months, characterized by a drop in GDP, employment, stock markets, and the general health of economic metrics.
• Example: The 2008 financial crisis led to a severe global recession that impacted numerous industries and livelihoods.

• A lessening or reduction in something.
• Example: The architect designed a room with a recession in one wall to create a niche for artwork.

• The act of ceding back or withdrawing.
• Example: The recession of tides after high tide results in a low tide.