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Definition of «recession»

A recession is an economic downturn characterized by a decline in economic activity, such as GDP growth rate and employment levels. It typically occurs when there is a decrease in consumer spending, business investments, and government expenditures. A recession can be caused by various factors including high inflation rates, interest rate hikes, decreased consumer confidence, or global economic shocks such as the 2008 financial crisis. During a recession, governments may implement policies to stimulate economic growth and alleviate the impact on businesses and households.

Usage examples

  1. The country's economy is currently experiencing a severe recession, with businesses closing down and a significant increase in unemployment rates.
  2. Many people lost their jobs during the last recession, causing financial hardship for families and an overall decrease in consumer spending.
  3. The government implemented several measures to combat the effects of the recession, such as reducing interest rates and providing stimulus packages to boost economic activity.
  4. The housing market was severely affected by the recession, leading to a decrease in property values and an increase in foreclosure rates.
  5. Some industries, such as tourism and hospitality, were hit particularly hard by the recession, as people cut back on discretionary spending and travel.

Phrases with «recession»

Sentences with «recession»

  • However, the recent studies of some of the Himalayan glaciers indicate that the rate of recession of most of the glaciers in general is on decline. (link.springer.com)
  • Since the Great Recession in 2009, companies have been able to put the effects of the economic decline behind them. (voiceofreasonconsulting.com)
  • The probability of recession in next 12 months remains low at and a half percent. (nbr.com)
  • (see all sentences)

See also

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