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  

/ riːˈsɛʃən /

noun

1. the act of restoring possession to a former owner

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recession ² 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 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

He was a major architect of the Dodd-Frank Act, which created new regulatory bodies and tightened restrictions on banks in the wake of the 2008 Great Recession.

From BBC • May 20, 2026

After 9/11, the government stepped in to bolster the airline industry, and in 2008 it propped up a variety of industries and businesses during the Great Recession.

From Salon • Apr. 28, 2026

Recession odds are low, despite the recent climb in energy prices.

From The Wall Street Journal • Apr. 12, 2026

There’s a lot in your favor: You retired early and made smart decisions, chief among them buying land and building a house during the Great Recession.

From MarketWatch • Mar. 10, 2026

The Great Recession was now entering its third decade, and unemployment was still at a record high.

From "Ready Player One: A Novel" by Ernest Cline

Related Words

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