recession

¹ American  

[ri-sesh-uhn] / rɪˈsɛʃ ən /

noun

1. the act of receding or withdrawing.

2. a receding part of a wall, building, etc.

3. a withdrawing procession, as at the end of a religious service.

4. Economics. a period of an economic contraction, sometimes limited in scope or duration.

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recession ² American  

[ree-sesh-uhn] / riˈsɛʃ ən /

noun

1. a return of ownership to a former possessor.

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recession ¹ British  

/ rɪˈsɛʃən /

noun

1. a temporary depression in economic activity or prosperity

2. the withdrawal of the clergy and choir in procession from the chancel at the conclusion of a church service

3. the act of receding

4. a part of a building, wall, etc, that recedes

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recession ² British  

/ riːˈsɛʃən /

noun

1. the act of restoring possession to a former owner

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recession Cultural  

1. A general business slump, less severe than a depression.

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Etymology

Origin of recession¹

First recorded in 1640–50, recession is from the Latin word recessiōn- (stem of recessiō ). See recess, -ion

Origin of recession²

First recorded in 1885–90; re- + cession

Explanation

Jobs being cut? Houses not selling? Everyone talking about the poor sales of everything from cars to bouquets of flowers? That's a recession, a time of economic decline. Recession comes from the Latin word recessus, meaning "a going back, retreat." Think of all the things that get made and sold in a country. When fewer people buy things, orders for them slow down. The sales "go back" to a lower amount. This is an economic recession. This noun can also describe other kinds of "going back," like the recession of floodwaters that enable people to begin cleaning up their homes that had been filled with water.

Example Sentences

The industrial economy is just starting to grow again, after a brutal three-plus-year post-Covid recession.

From Barron's • Jun. 11, 2026

“Honestly, it looks like the hiring recession is over,” Heather Long, chief economist at Navy Federal Credit Union, said on a social-media post.

From MarketWatch • Jun. 5, 2026

The U.K.’s industrial production fell by a third, and a recession that had begun in 1943 was prolonged, then extended again when spring brought flooding.

From The Wall Street Journal • Jun. 5, 2026

Many countries would risk falling into recession, he noted, and a drop in investment spending -- "including in energy-intensive AI" -- would likely push up unemployment.

From Barron's • Jun. 3, 2026

Later, as they discussed the price of the land, Edusco said, “Look, my brother. You won’t sell it at that price, nobody will buy. Ife esika ktta. The recession is biting everybody.”

From "Americanah" by Chimamanda Ngozi Adichie

Related Words

• bankruptcy
• collapse
• decline
• deflation
• downturn
• hard times
• inflation
• shakeout
• slide
• slump
• stagnation
• unemployment