The small business dictionary defines, explains, and crossreferences more than 1,800 key small business words, phrases, acronyms, and concepts, covering topics including small business finance, management, sales, startup, exit strategy, and growth. Recession definition of recession by medical dictionary. The downturn is not described as depression since the severity has not encompassed the levels of the great depression in the 1930s. Recession definition of recession by merriamwebster. The fact or action of moving away or back, especially. A recession is a significant decline in activity across the economy, lasting longer than a few months.
An economic recession is a significant decline in economic activity, real gpd, real income, employment, industrial production, and sales following a decline in the aggregate demand for at least two quarters. Definition and synonyms of recession from the online english dictionary from macmillan education. Recession definition is the act or action of receding. Recession meaning in the cambridge english dictionary. Recessions legal definition of recessions legal dictionary. It is visible in industrial production, employment, real income and wholesale.
Unemployment reaches 25%, housing prices plummet 30%, and prices fall 10%. Recession definition in the cambridge english dictionary. Business a period of an economic contraction, sometimes limited in scope or. The chronology identifies the dates of peaks and troughs that frame economic recession or expansion. Recession is explained in detail and with examples in the economics edition of the herold financial dictionary, which you can get from amazon in ebook or paperback edition. With a recession looming, consumers are spending less. Recession a temporary downturn in economic activity, usually indicated by two consecutive quarters of a falling gdp. Audio pronunciations, verb conjugations, quizzes and more. The primary difference between recession and depression is that when the economic activities of the country declines, due to which the gdp falls for a few months is known as recession. The official nber definition of recession which is used to date u. The national bureaus business cycle dating committee maintains a chronology of the u. Period of general economic decline, defined usually as a contraction in the gdp for six months two consecutive quarters or longer. Economic recession financial definition of economic recession.
Recessions synonyms, recessions pronunciation, recessions translation, english dictionary definition of recessions. A recession is a period when the economy of a country is doing badly, for example. Recession synonyms, recession antonyms merriamwebster. Recessions generally occur when there is a widespread drop in spending an adverse demand shock. We use cookies to enhance your experience on our website, including to provide targeted advertising and track usage. The devastation of a depression is so great that the effects of the great depression lasted for decades after it ended. Customers who owe the company money may make payments slower, later. Therefore, it was announced that country xyz was in a state of recession. A recession is a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real gdp, real. The period from a peak to a trough is a recession and the period from a trough to a peak is an. A recession is literally defined as the declining of the nations gdp, or gross domestic product, by a smaller amount than ten percent.
Definition of business noun in oxford advanced learners dictionary. When measuring consumer and business attitudes towards the economy, economists discovered a high level of pessimism. Recessions definition of recessions by the free dictionary. Oct 20, 2019 statisticians often define a recession as negative real gdp growth during two consecutive quarters. Such a slowdown in economic activities may last for some quarters thereby completely hampering the growth of an economy. In economics, a recession is a business cycle contraction when there is a general decline in economic activity. Recession definition and meaning collins english dictionary. As dozens of companies go out of business, others are riding out the recession. Depression is when there is continuous and drastic recession in the countrys economy. Definition of recession written for english language learners from the merriamwebster learners dictionary with audio pronunciations, usage examples, and countnoncount noun labels. From longman dictionary of contemporary english related topics. Recession is a slowdown or a massive contraction in economic activities.
Statisticians often define a recession as negative real gdp growth during two consecutive quarters. Definition of recession noun in oxford advanced learners dictionary. However a number of economists still believe the economy is in a recession. Synonyms for recession at with free online thesaurus, antonyms, and definitions.
The business cycle dating committee at the national bureau of economic research nber provides a better way to find out if there is a recession is taking place. A period of decreased business activity and high unemployment. A period of economic downturn experienced by the united states beginning in december 2007. Please help out and add a definition, then remove the text. Recession legal definition of recession legal dictionary. Recession means a period of at least two quarters where real gdp or other economic factors decline significantly. Culture the city the city the business and financial centre of london is called the city or the city of london. A recession will also dampen a companys accounts receivable ar.
This is the british english definition of recession. A recession is a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real gdp, real income, employment, industrial production, and. Recession definition, the act of receding or withdrawing. Meaning, pronunciation, picture, example sentences, grammar, usage notes, synonyms and more.
The chronology identifies the dates of peaks and troughs that frame economic recession or. Although the term recession is well known, and its negative connotations for the state of the economy are typically understood by the general public, the actual definition of a recession is less clear. A temporary downturn in economic activity, usually indicated by two consecutive quarters of a falling gdp. The ceremonial filing out of clergy andor choir at the end of a church service. In economics, a recession is a business cycle contraction, a general slowdown in economic activity. A recession is associated with high unemployment, slowing gross domestic product, and high inflation. Fullblown recessions are relatively uncommon for the. This may be triggered by various events, such as a financial crisis, an external trade shock, an adverse supply shock, the bursting of an economic bubble, or a largescale natural or. Everyone talking about the poor sales of everything from cars to bouquets of flowers. Economic recession synonyms, economic recession pronunciation, economic recession translation, english dictionary definition of economic recession.
The nber in the united states defines a recession thus. Recession noun definition and synonyms macmillan dictionary. The erosion of a cliff or headland from a given point, as from the action of a waterfall. The state of espirito santo has shortterm fluctuations in its activity level business cycles that are on average twice more volatile than fluctuations occurring in brazil. Economic recession definition of economic recession by.
Translation of recession at merriamwebsters spanishenglish dictionary. Recession definition for englishlanguage learners from. Apr 22, 2020 a recession will also dampen a companys accounts receivable ar. Jul 22, 2018 the business cycle dating committee at the national bureau of economic research nber provides a better way to find out if there is a recession is taking place. A recession is a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real gdp, real income, employment, industrial production, and wholesaleretail sales. Many financial institutions have their head offices in the city. It covers an area in east central london north of the river thames, between blackfriars bridge and tower bridge. A recession is a significant decline in economic activity, lasting more than a few months in the business cycle, a recession is the period between the peak and the trough. The us market housing decline is pointed out to be one of the causes of the great recession. A depression is an extended recession that has years, not quarters, of economic contraction.
Customers who owe the company money may make payments slower, later, or not at all. In such a situation, economic indicators such as gdp, corporate profits, employments, etc. In a 1975 new york times article, economic statistician julius shiskin suggested several rules of thumb for defining a recession, one of which was two down consecutive quarters of gdp. Macroeconomic indicators such as gdp, employment, investment spending, capacity utilization, household. A significant fall in spending generally leads to a recession. The nbers business cycle dating committee defines a recession as a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in production. Recession article about recession by the free dictionary. Change your default dictionary to american english. The national bureau of economic research analyzes the united states economy to determine where it is in the business cycle.
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