recession

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recession:

see depressiondepression,
in economics, period of economic crisis in commerce, finance, and industry, characterized by falling prices, restriction of credit, low output and investment, numerous bankruptcies, and a high level of unemployment.
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recession

a period of lower than average economic growth.

recession

[ri′sesh·ən]
(geology)
The backward movement, or retreat, of an eroded escarpment.
A continuing landward movement of a shoreline or beach undergoing erosion. Also known as retrogression.
The withdrawal of a body of water (as a sea or lake), thereby exposing formerly submerged areas.
(hydrology)
The gradual upstream retreat of a waterfall.

recession

1. Economics a temporary depression in economic activity or prosperity
2. Religion the withdrawal of the clergy and choir in procession from the chancel at the conclusion of a church service
References in periodicals archive ?
While these numbers are extraordinary in magnitude, placing the Great Recession in the uppermost corner of the chart, they are generally in line with the relationship between GDP and employment during previous recessions.
Raise your hand if you think the United States will never have another recession.
In this study, we investigate whether the Great Recession is associated with variation in annual health care expenditures at the lower (e.
More particularly, we allow for both slope and level changes by introducing the recession dummies in the mean and interaction terms with the output variable; these account for the average variability of Okun's law during recessions relative to "normal" times.
A recession is a period of at least two quarters of GDP contraction which usually involves job losses, reduced corporate profits and lower government revenue.
As in many other papers, I use a probit model with a binary variable getting the value of one during recessions as the dependent variable.
Read the full report, "NCSL Fiscal Brief: How State Tax Policy Responds to Economic Recessions," at www.
If you were to plot out all of the post-World War II recessions according to the depth of the downturn (measured in percentage change in Gross Domestic Product (GDP) from pre-recession peak to recession trough on the horizontal axis) and growth in the recovery (as measured by the four-quarter average of the percent change in GDP immediately following), a clear relationship can be seen, as depicted in Figure 2.
In a typical postwar business cycle, the unemployment rate starts leveling off about 14 months after the start of the recession (recessions typically last around 10 months), but it usually takes more than 30 months to return to pre-recession levels.
Recessions will happen, but people and communities must plan and prepare for future recessions now.
The impact of recessions on the OTC market mainly comes from erosion of branded OTC sales by private-label products and is reflected in slower growth rates.
If the patterns of previous recessions are repeated, it could take around three years before the economy is back to where it was before this recession started.