re ‧ ces ‧ sion /rɪˈseʃ ə n/ BrE AmE noun [uncountable and countable]
a difficult time when there is less trade, business activity etc in a country than usual:
the economic recession of the early 1980s
There is deep recession in the UK.
into/out of recession
attempts to pull the country out of recession
• • •
COLLOCATIONS
■ adjectives
▪ an economic recession
The economic recession of the '70s led to a fall in recruitment.
▪ a world/global/worldwide recession
America’s airlines have been badly hit by the world recession.
▪ a deep/severe recession
We are in the middle of a severe recession.
▪ the worst recession
Colombia is going through its worst recession in decades.
▪ the longest recession
The British economy was in its longest recession since the Second World War.
■ verbs
▪ suffer/experience a recession
The country was suffering a deep recession.
▪ slide/slip into recession (=start to experience a recession)
Most analysts don’t believe the economy will slide into recession.
▪ plunge into recession (=start to experience a deep recession)
The US is about to plunge into recession.
▪ be hit by a recession (=be badly affected by it)
Rural areas have been hardest hit by the recession.
▪ cause recession
Rising oil prices help to fuel inflation and cause recession.
▪ a recession deepens (=becomes worse)
Economists fear the recession may be deepening.
■ phrases
▪ the beginning/end of the recession
The Chancellor is confident that we shall see the end of the recession in the next few months.
▪ be in the middle/midst of a recession
We are in the midst of a world recession.
▪ be in the depths of recession (=be at its worst level)
The country is in the depths of recession.
• • •
THESAURUS
▪ recession a period when a country’s economic growth stops and there is less trade:
The industry has cut jobs due to the recession.
|
fears that the economy may be sliding into recession
▪ depression a long period during which there is a bad recession, so that there is very little business activity and a lot of people do not have jobs:
During the depression of the 1930s, as many as 20% of the population were jobless.
▪ slump a fairly short period when there is a reduction in business and many people lose their jobs:
The slump in the housing market is making it difficult for people to sell their homes.
▪ slowdown a period when there is a reduction in business activity, that may be the start of a recession:
High prices could tip the slowdown in the US into a world recession.
▪ downturn a period during which there is a reduction in business activity and economic conditions become worse, when before the economy was growing:
Public spending may reduce the effects of the downturn.
▪ crash an occasion when the value of stocks and shares on a stock market falls suddenly and by a large amount, causing economic problems:
The Wall Street Crash of 1929 was disastrous for not only the American economy, but for the world economy.