Recession Meaning

Recession

Definitions and Meaning in English

1. As an economic term: A significant decline in economic activity across a country or region, lasting for a prolonged period, typically measured by two consecutive quarters of negative GDP growth.
2. As a general term: The act of withdrawing or receding, such as the movement back of a physical object or entity.

History and Origin

The word “recession” originates from the Latin term recedere, meaning “to go back” or “withdraw.” It entered English in the late 16th century, initially referring to the act of retreating or receding. By the 19th century, it was adopted in economic contexts to describe periods of declining economic performance.

Detailed Explanation

In economics, “recession” refers to a downturn in the business cycle marked by reduced industrial production, falling consumer spending, rising unemployment, and declining income levels. It reflects a contraction in economic activity, often triggered by external shocks, financial crises, or policy missteps. Outside economics, the term can describe any act of moving back, such as the recession of glaciers or hairlines. Understanding the causes and impacts of recessions is crucial for formulating recovery strategies and policies.

Example Sentences

1. The global economy faced a severe recession during the financial crisis of 2008.
2. Businesses are preparing for a possible recession next year.
3. Recession often leads to higher unemployment rates.
4. The company’s profits declined due to the ongoing recession.
5. Economists predict that the recession will last for two more quarters.
6. The recession of the glacier has accelerated due to climate change.
7. A prolonged recession can have devastating effects on small businesses.
8. Her hairline recession is barely noticeable.
9. The government announced measures to counteract the effects of the recession.

Synonyms with Short Explanation

1. Downturn: A decline in economic activity or performance.
2. Contraction: A period of economic decline or reduction.
3. Depression: A prolonged and severe economic recession.
4. Slump: A sudden and severe economic decline.
5. Withdrawal: The act of pulling back or receding.

Related Words with Short Explanation

1. Economic decline: A period of reduced economic growth and productivity.
2. Stagnation: A lack of economic growth or activity.
3. Bear market: A market condition marked by falling stock prices.
4. Unemployment: The state of being without a job, often rising during recessions.
5. Deflation: A decrease in the general price level of goods and services.

More Matches with Short Explanation

1. Economic crisis: A severe disruption in the economy due to financial or structural issues.
2. Financial downturn: A decline in financial market performance.
3. Market collapse: A sharp fall in the stock or commodity market.
4. Slowdown: A reduction in the pace of economic growth.
5. Credit crunch: A shortage of credit availability in the economy.

Antonyms

1. Expansion
2. Growth
3. Recovery
4. Boom
5. Prosperity