recession Meaning and Definition
1. n. the act of becoming more distant
2. n. the act of ceding back
3. n. the withdrawal of the clergy and choir from the chancel to the vestry at the end of a church service
4. n. a small concavity
5. n. the state of the economy declines; a widespread decline in the GDP and employment and trade lasting from six months to a year
In economics, a recession is a negative economic growth for two consecutive quarters. It is also a business cycle contraction which results in a general slowdown in economic activity.
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