B2noun 2K

Recession

UK /["/rɪˈseʃn/"]/ US /["/rɪˈseʃn/"]/ Pronunciation

Definition

a difficult time for the economy of a country, when there is less trade and industrial activity than usual and more people are unemployed

Listen to definition

In simple words: A time when the economy is not doing well, and many people lose jobs or companies make less money.

Examples

• The country entered a recession after the stock market crash, leading to widespread unemployment.
• During the recession, many businesses struggled to keep their doors open.
• A recession is typically defined as two consecutive quarters of negative economic growth.
• The recession caused consumer confidence to drop sharply.
• After the recession, the government introduced new policies to stimulate the economy.

Usage notes

Used in economic discussions, often when talking about negative financial conditions. It's appropriate in formal situations, but also used in news and casual conversations about financial health.

Grammar pattern

standalone noun

Memory hint

Sounds like 'recess' which is a break; think of an economic break where there’s less money.

Collocations

• economic recession
• global recession
• impacts of recession
• recession period

Synonyms

• economic downturn
• downturn
• slump
• decline

Antonyms

• expansion
• growth
• prosperity

Common mistakes

• Confused with 'depression'; recession is less severe than a depression.
• Using 'recession' to describe temporary economic downturns, while it specifically refers to a more sustained decline.
• Mixing up the causes of a recession with its effects.