A recession is a period of time when a country’s economy slows down, with less spending, production, and jobs than usual.
From Latin *recessio* meaning ‘a going back, withdrawal’, from *recedere* (to go back, recede). It was adopted in economics to describe the economy ‘backing away’ from growth.
Recession literally means ‘going backward,’ which is exactly what the economy feels like—shrinking instead of growing. It’s milder than a ‘depression,’ which is like the economy sinking into a deep hole.
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