recession meaning and definition

RECESSION noun

Definition of recession (noun)

1. the state of the economy declines; a widespread decline in the GDP and employment and trade lasting from six months to a year
   • the company bellied up during the economic recession" 
   • "hundreds of firms went bankrupt during the recession"
   • "the country was plunged into recession"
   • "the world is only slowly emerging from recession" 
2. a small concavity
   • synonyms: corner, niche, recess
3. the withdrawal of the clergy and choir from the chancel to the vestry at the end of a church service
   • synonyms: recessional
4. the act of ceding back
   • synonyms: ceding back
5. the act of becoming more distant
   • synonyms: receding