Found 2 items, similar to Recession.
English → English (WordNet) Definition: recession recession n 1: the state of the economy declines; a widespread decline in the GDP and employment and trade lasting from six months to a year 2: a small concavity [syn: recess, niche, corner] 3: the withdrawal of the clergy and choir from the chancel to the vestry at the end of a church service [syn: recessional] 4: the act of ceding back [syn: ceding back] 5: the act of becoming more distant [syn: receding]
English → English (gcide) Definition: Recession Recession \Re*ces"sion\ (r[-e]*s[e^]sh"[u^]n), n. [L. recessio, fr. recedere, recessum. See Recede.] 1. The act of receding or withdrawing, as from a place, a claim, or a demand. --South. [1913 Webster] Mercy may rejoice upon the recessions of justice. --Jer. Taylor. [1913 Webster] 2. (Economics) A period during which economic activity, as measured by gross domestic product, declines for at least two quarters in a row in a specific country. If the decline is severe and long, such as greater than ten percent, it may be termed a depression. [PJC] 3. A procession in which people leave a ceremony, such as at a religious service. [PJC] Recession \Re*ces"sion\, n. [Pref. re- + cession.] The act of ceding back; restoration; repeated cession; as, the recession of conquered territory to its former sovereign. [1913 Webster]