Definition of downturn noun from the Oxford Advanced Learner's Dictionary

 

downturn

 noun
noun
BrE BrE//ˈdaʊntɜːn//
 
; NAmE NAmE//ˈdaʊntɜːrn//
 
Economy
 
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[countable, uncountable] downturn (in something) a fall in the amount of business that is done; a time when the economy becomes weaker the recent economic downturns a downturn in sales/trade/business the economic downturn of 2008/2009 a period of economic downturn opposite upturn See related entries: EconomyExtra examples The 1990s witnessed a sharp downturn in the party’s fortunes. The building industry is experiencing a severe downturn in its workload. a sharp downturn of the economy The company never recovered from the economic downturn of the late 1990s.
See the Oxford Advanced American Dictionary entry: downturn