Definition of recession
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")
recession (plural recessions)
- The act or an instance of receding
- A period of reduced economic activity
Statisticians often define a recession as negative, real GDP growth during two consecutive quarters.
- The ceremonial filing out of clergy and/or choir at the end of a church service.
- (receding) withdrawal
- (ceremonial) return procession
- (period of reduced economic activity): boom
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