The phrase "global downturn" refers to a significant decline or decrease in economic activity happening worldwide. It implies that various countries or regions are experiencing a slowdown, recession, or negative growth simultaneously.
Sentences with «global downturn»
Adding to those fears was the evident global downturn in manufacturing, the ongoing financial crisis in Europe, and the predictions of some that the US also would experience a return to recession, a «double dip.» (businessinsider.com)
Premier Li Keqiang's plan to have slower but better balanced growth has run into difficulties and Beijing's struggle to transform its economic model has prompted fears that the world's second - biggest economy could be the source of the next global downturn. (theguardian.com)
For example, in 2008 they cut interest rates together in response to the deepening global downturn, and in 2011 they helped prevent runaway appreciation of the Japanese yen following a devastating earthquake. (businessinsider.com)