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Legal Dictionary

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

References:

  1. Wiktionary. Published under the Creative Commons Attribution/Share-Alike License.



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