recession

Definition of recession

Etymology

Recorded since 1929, from recess + -ion < Latin recessus ("a going back, retreat") < recessum, the past participle of recedere ("to recede") < re- ("back") + cedere ("to go")

Noun

recession (plural recessions)

1. The act or an instance of receding
2. A period of reduced economic activity
   
   Statisticians often define a recession as negative, real GDP growth during two consecutive quarters.
3. The ceremonial filing out of clergy and/or choir at the end of a church service.

Synonyms

• (receding) withdrawal
• (ceremonial) return procession

Antonyms

• (period of reduced economic activity): boom

Derived terms

• recessionary