recession recession  /rɪ ˈsɛ ʃən/

Definition(s):

  1. (n) the state of the economy declines; a widespread decline in the GDP and employment and trade lasting from six months to a year
  2. (n) the act of becoming more distant
  3. (n) the act of ceding back
  4. (n) the withdrawal of the clergy and choir from the chancel to the vestry at the end of a church service
  5. (n) a small concavity

Usage(s):

  1. Federal Reserve Chairman Ben Bernanke said Tuesday the worst recession since the 1930s is probably over, although he cautioned that economic pain will persist.
  2. Once the recession is no longer exerting pressure against price boosts, the deficits can cause them to speed up again.
  3. It's official, we've been in a recession for a year now.

News

  1. 60% chance of global recession: Pimco

    Brace yourself for another recession and more economic volatility. Bond giant Pimco believes there is a 60% chance of another global recession in the next few years.
    on June 12, 2013     Source: CNN Money

  2. Pimco Sees a 60% Chance of Recession in 3-5 Years

    High debt levels have raised the chances of a global recession in the next three to five years to more than 60 percent, said Pimco, which manages the world's largest bond fund.
    on June 11, 2013     Source: CNBC

  3. 60% Chance of Recession: Pimco

    High debt levels have raised the chances of a global recession in the next three to five years to more than 60 percent, said Pimco, which manages the world's largest bond fund.
    on June 11, 2013     Source: CNBC via Yahoo! Finance

Quotes

  1. "The recession dug us a hole of about 8 million jobs deep, and we continue to fight headwinds from volatile global markets, so we still have a great deal of work to do to repair the economy and get the American people back to work," Obama said.
    on Jul 2, 2010 By: Barack Obama Source: ABC News

  2. "If the public-option plan is in there, as a matter of conscience I will not allow this bill to come to a final vote, because I believe the debt [incurred by the bill] can break America and send us into a recession that is worse than the one we are...
    on Nov 8, 2009 By: Joe Lieberman Source: Voice of America

  3. "You've heard of mental depression; this is a mental recession," Gramm, a former Texas senator, told the newspaper, adding that the presumptive Republican nominee will face an uphill battle fighting those perceptions.
    on Jul 10, 2008 By: Phil Gramm Source: FOXNews

Word of the Day
fallacy fallacy
/ˈfæ lə si /