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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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The Columbia Electronic Encyclopedia™ Copyright © 2013, Columbia University Press. Licensed from Columbia University Press. All rights reserved. www.cc.columbia.edu/cu/cup/
recessiona period of lower than average economic growth.
Collins Dictionary of Sociology, 3rd ed. © HarperCollins Publishers 2000
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.
The gradual upstream retreat of a waterfall.
McGraw-Hill Dictionary of Scientific & Technical Terms, 6E, Copyright © 2003 by The McGraw-Hill Companies, Inc.
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
Collins Discovery Encyclopedia, 1st edition © HarperCollins Publishers 2005