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

She advances the argument that previously demand for U.S. government debt was countercyclical and bolstered the dollar in times of recession or risk asset turbulence.

From MarketWatch • Jul. 9, 2026

Its stock has increased over 2,000% during that time, from a low of about $40 a share in the wake of the 2008 recession to around $953 on Wednesday.

From The Wall Street Journal • Jul. 8, 2026

A team of Deutsche Bank strategists led by Binky Chadha share this chart showing second-quarter S&P 500 earnings-growth expectations at 26.2%, double the prior record going into an earnings season outside of recession recoveries.

From MarketWatch • Jul. 1, 2026

American students are in a decade-long reading recession, while fewer students are reading for pleasure than in previous generations.

From Los Angeles Times • Jul. 1, 2026

The Chicago Tribune reported that increasing turbulence in global markets had raised concerns in London that a recession, even a full-blown “panic,” could be in the offing.

From "The Devil in the White City" by Erik Larson

Related Words

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