A period of general economic decline, part of the usual business cycle.

A significant decline in general economic activity extending over a period of time.

A stage of the business cycle in which economic activity is in slow decline. Recession usually follows a boom, and precedes a depression. It is characterized by rising unemployment and falling levels of output and investment.

A significant decline in activity spread across the economy, lasting longer than a few months. It is visible in industrial production, employment, real income, and wholesale-retail trade.

As reflected in the gross national product, a decline in economic activity in at least two consecutive quarters.

Period of general and sustained economic decline.

A decline in business activity. Often defined as two consecutive quarters with a real fall in gross national production.

A significant decline in economic growth that lasts six months or longer. It is usually marked by job layoffs, high unemployment, reductions in retail sales, and the slowing of housing and car markets. A recession is milder than a depression. ...


A sharp contraction in economic activity and employment. A common but informal measure is two consecutive quarters with a decline of national output...

A period of reduced economic activity or a general economic downturn marked by a decline in employment, production, sales, profits, and weak economic growth that is not as severe or prolonged as a depression...