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



    BrE BrE//rɪˈseʃn//
    ; NAmE NAmE//rɪˈseʃn//
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  1. 1[countable, uncountable] a difficult time for the economy of a country, when there is less trade and industrial activity than usual and more people are unemployed the impact of the current recession on manufacturing The economy is in deep recession. policies to pull the country out of recession These industries have been hard hit by recession. see also double-dip recession CollocationsThe economyManaging the economy handle/​run/​manage the economy boost investment/​spending/​employment/​growth stimulate demand/​the economy/​industry cut/​reduce investment/​spending/​borrowing reduce/​curb/​control/​keep down inflation create/​fuel growth/​demand/​a boom/​a bubble encourage/​foster/​promote/​stimulate/​stifle innovation/​competition encourage/​work with/​compete with the private sector increase/​boost/​promote US/​agricultural exports ban/​restrict/​block cheap/​foreign imports the economy grows/​expands/​shrinks/​contracts/​slows (down)/recovers/​improves/​is booming enjoy an economic/​housing/​property boomEconomic problems push up/​drive up prices/​costs/​inflation damage/​hurt/​destroy industry/​the economy cause/​lead to/​go into/​avoid/​escape recession experience/​suffer a recession/​downturn fight/​combat inflation/​deflation/​unemployment cause/​create inflation/​poverty/​unemployment create/​burst a housing/​stock market bubble cause/​trigger a stock market crash/​the collapse of the banking system face/​be plunged into a financial/​an economic crisis be caught in/​experience cycles of boom and bustPublic finance cut/​reduce/​slash/​increase/​double the defence/(especially US English) defense/​education/​aid budget increase/​boost/​slash/​cut public spending increase/​put up/​raise/​cut/​lower/​reduce taxes raise/​cut/​lower/​reduce interest rates ease/​loosen/​tighten monetary policy balance the (state/​federal) budget achieve/​maintain a balanced budget run a ($4 trillion) budget deficit/​surplus See related entries: Economy
  2. 2[uncountable] (formal) the movement backwards of something from a previous position the gradual recession of the floodwater
  3. Word Originmid 17th cent.: from Latin recessio(n-), from recess- ‘gone back’, from the verb recedere ‘go back’, from re- ‘back’ + cedere ‘go’.Extra examples As dozens of companies go out of business, others are riding out the recession. Germany was suffering a steep recession. It was the worst recession since the war. The US managed to avoid a double-dip recession. The country has been hit by recession. The economy is in deep recession. These reforms will only deepen the recession. With a recession looming, consumers are spending less. active policies to pull the country out of recession How do you assess the impact of the current recession on manufacturing? These industries have been hit hard by the recession.
See the Oxford Advanced American Dictionary entry: recession

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