- noun a period where there is a decline in trade or in the economy
- noun a fall in trade or in the economy of a country. There are various ways of deciding if a recession is taking place: the usual one is when the GNP falls for two consecutive quarters.
- A time when growth falls due to weakness within an economy that is usually indicated by two or more quarters of negative GDP growth. Forex traders often look for preliminary signs of a recession building within a nation as a fundamental reason to sell that nation's currency against currencies of countries with stronger economies. Stock and housing markets usually decline in a recession, while unemployment rises.