1A period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.
- Economic recessions are predominantly the result of insufficient demand.
- This obviously buoys the market in good times and smooths its falls in recessions.
- As political economists have always emphasised, periodic recessions are endemic to capitalism.
economic decline, downturn, depression, slump, slowdown
2chiefly Astronomy The action of receding; motion away from an observer.
- The expansion of the Universe is described by a very simple equation called Hubble's law; the velocity of the recession of a galaxy is equal to a constant times its distance.
- In 1842 Doppler proved that the colour of a luminous body, like the pitch or note of a sounding body, must be changed by velocity of approach or recession.
- The velocity of recession is proportional to the distance from us.
- Example sentences
- While some commentators seem to have made it their mission to hasten the country into a recessionary spiral, the views of the leading businesspeople serve as a timely antidote.
- This will make recessionary declines less severe and shorter, but it will not prevent economic downturns completely.
- This is designed to prevent a market collapse, which could have serious consequential effects in the current recessionary climate.
Mid 17th century: from Latin recessio(n-), from recess- 'gone back', from the verb recedere (see recede).
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