Definition of recession

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< recess

recession >

re·ces·sion ¹    (r-sshn) KEY  

NOUN:

1. The act of withdrawing or going back.
2. An extended decline in general business activity, typically two consecutive quarters of falling real gross national product.
3. The withdrawal in a line or file of participants in a ceremony, especially clerics and choir members after a church service.

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ETYMOLOGY:
Latin recessi , recessin-, from recessus, past participle of recdere, to recede ; see recede ¹

OTHER FORMS:
re·cession·ary (Adjective)

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