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Noun: recession  ri'se-shun
  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
    - recess, niche, corner
     
  3. The withdrawal of the clergy and choir from the chancel to the vestry at the end of a church service
    - recessional
     
  4. The act of ceding back
    - ceding back
     
  5. The act of becoming more distant
    - receding

Derived forms: recessions

Type of: ceding, cession, concave shape, concavity, economic condition, incurvation, incurvature, procession, withdrawal

Encyclopedia: Recession