The phrase "recent recession" refers to an economic downturn that happened not long ago. It means there was a period of time when the economy was not doing well, businesses struggled, and many people lost their jobs. Full definition
An astounding 92 % of pet owners spent the same or more on their pets during the most recent recession period. (franchise.wagnwash.com)
Yet, the most recent recession always seems so much worse than earlier periods since it is fresh on our minds. (fedretire.net)
Meanwhile, there are signs that the next generation, those still in high school, might also be coming of age under heavy influence of the most recent recession. (businessinsider.com)