|
recession (r<esl/*s<ecr/sh"<ucr/n), n. [L. recessio, fr. recedere, recessum. See Recede.] 1. The
| recession | (r<esl/*s<ecr/sh"<ucr/n), n. [L. recessio, fr. recedere, recessum. See Recede.] 1. The act of receding or withdrawing, as from a place, a claim, or a demand. South. [1913 Webster]
-Mercy may rejoice upon the recessions of justice. Jer. Taylor. [1913 Webster]
2. (Economics) A period during which economic activity, as measured by gross domestic product, declines for at least two quarters in a row in a specific country. If the decline is severe and long, such as greater than ten percent, it may be termed a depression. [PJC]
3. A procession in which people leave a ceremony, such as at a religious service. [PJC] |
| recession | , n. [Pref. re- + cession.] The act of ceding back; restoration; repeated cession; as, the recession of conquered territory to its former sovereign. [1913 Webster] |
|