In economics, a "recession" means a period of contraction that is typically limited in scope or time. It contrasts with a "depression," which means a more severe economic decline.Continue Reading
"Recession" is a noun that can also mean the act of withdrawing, a receding part of a building or the act of restoring possession to a former owner.
"Recession" entered the English language in the 1640s from the French word "r��cession." It originates from the Latin word "recessionem," which means the act of going backward or withdrawing. "The Economist" introduced "recession" in the economic sense in 1929, a few days after the beginning of the Great Depression.Learn more about Education