A recession is an economic downturn or slowdown that happens when there’s a significant drop in economic activity across the country or globally. It means that businesses produce and sell less, people buy fewer things, and there’s generally less money moving around in the economy. This can lead to issues like job losses, reduced incomes, and businesses facing challenges. Usually, recessions are measured by a decrease in a country’s gross domestic product (GDP) over a certain period, signaling that the economy is not growing as it usually does.
Table of contents:
- Meaning and definition of ‘recession’
- How to pronounce recession?
- Synonyms and Antonyms of recession
- Examples of ‘recession’ in sentences
- Related terms and phrases to ‘recession’
- Rhyming words with recession
- How can you use recession in your spoken English?
Meaning and definition of ‘recession’
Part of Speech: Noun
Definition:
1. Economic Decline: A period characterized by a significant decline in economic activity within a country or globally, typically identified by a decrease in the Gross Domestic Product (GDP) for two consecutive quarters or more. During a recession, there is a slowdown in production, consumption, and investment, often leading to reduced employment opportunities, decreased consumer spending, and business contractions.
2. Withdrawal or Retreating Movement: A movement backward or away from a previously attained position or level. It can refer to a physical or metaphorical regression or retreat from progress or advancement.
3. Temporary Pause or Reversal: A temporary decline or pause in a particular trend or situation, such as a decrease in prices, activity, or growth in a specific sector or aspect.
4. Geological Erosion: The process of receding or wearing away, especially of a coastline due to natural forces like waves or tides.
5. Withdrawal of the Jaw: In anatomy, recession refers to the withdrawal or moving back of the lower jaw.
How to pronounce recession?
The word “recession” is pronounced as ree-SESH-uhn.
Here’s a breakdown of the syllables:
- “ree” – pronounced like “ree” in the word “reed.”
- “SESH” – pronounced like “sesh” as in the word “session.”
- “uhn” – the final syllable is pronounced as “uhn” with a short “u” sound, similar to the vowel sound in the word “fun.”
Synonyms and Antonyms of recession
Here are some synonyms and antonyms for the word “recession”:
Synonyms:
- Downturn
- Slump
- Decline
- Contraction
- Slowdown
- Depression (in an economic context)
- Decrease
- Retreat
- Stagnation
- Reduction
Antonyms:
- Growth
- Expansion
- Recovery
- Advancement
- Prosperity
- Boom
- Upswing
- Rise
- Development
- Improvement
Examples of ‘recession’ in sentences
- The country experienced a severe recession in 2008, causing widespread job losses and economic hardship.
- During an economic recession, businesses often struggle to maintain their profitability and may resort to layoffs.
- Consumer spending tends to decrease during a recession as people become more cautious with their finances.
- The recessionary effects of the pandemic led to a decline in global trade and disrupted supply chains.
- Efforts to recover from the recession involved implementing various fiscal policies to stimulate economic growth.
- The housing market was heavily impacted by the recession, resulting in plummeting property values.
- Many companies adopted cost-cutting measures to survive the recession, such as reducing production and scaling back expansion plans.
- The automobile industry faced a significant downturn during the recession, with sales declining sharply.
- Economists closely monitor economic indicators to predict the likelihood and duration of future recessions.
- Governments often implement stimulus packages to counteract the negative effects of a recession on the economy.
Related terms and phrases to ‘recession’
Related terms and phrases associated with “recession” often revolve around economic conditions, fluctuations, and impacts. Here are some related terms and phrases and why they are connected:
1. Depression: A severe and prolonged economic downturn characterized by a drastic decline in economic activity, widespread unemployment, low consumer confidence, and deflation. It is more severe and longer-lasting than a recession.
2. Economic downturn: Refers to a period of reduced economic activity, encompassing both recessions and depressions, where various economic indicators show negative trends.
3. Unemployment: The condition of being without a job, often increasing during recessions as companies cut costs and reduce their workforce due to decreased demand.
4. Gross Domestic Product (GDP): A key measure of a country’s economic performance, indicating the total value of all goods and services produced in a specific period. Recessions are often characterized by a decline in GDP.
5. Fiscal Policy: Government policies related to taxation, public spending, and borrowing used to influence economic conditions. During a recession, governments might implement fiscal measures to stimulate the economy.
6. Monetary Policy: Actions by a central bank that influence the money supply and interest rates to control inflation, stimulate economic growth, or stabilize currency. Central banks often adjust monetary policy during recessions to encourage borrowing and spending.
7. Consumer Confidence: The degree of optimism consumers feel about the state of the economy, affecting their willingness to spend. During a recession, consumer confidence tends to decrease, leading to reduced spending.
8. Stimulus Package: Measures taken by governments to boost economic activity during a recession, such as tax cuts, increased government spending, or financial incentives to businesses.
9. Business Cycle: The recurring pattern of economic growth, recession, recovery, and expansion experienced by economies over time.
10. Market Correction: A rapid change in the price of a financial security or asset to correct an overvaluation or undervaluation. Market corrections can sometimes precede or follow recessions.
Rhyming words with recession
Here are some words that rhyme with “recession”:
- Aggression
- Confession
- Expression
- Profession
- Obsession
- Depression
- Regression
- Suppression
- Transgression
- Possession
How can you use recession in your spoken English?
Here are some tips and explanations on how to effectively use the word “recession” in spoken English:
1. Understand the Context:
- Before using “recession” in conversation, ensure you understand its meaning within the context you’re discussing. It primarily refers to an economic decline, but it can also denote other forms of withdrawal or decline.
2. Use in Economic Discussions:
- Use “recession” when talking about economic downturns, such as a decline in GDP, increased unemployment, decreased consumer spending, or a general slowdown in economic activity.
- Example: “The country is experiencing a recession due to reduced industrial output and declining consumer confidence.”
3. Employ Analogies or Comparisons:
- Comparing a current situation to a recession can help illustrate the severity or decline in different scenarios, not just in economics.
- Example: “The pandemic caused a recession in the tourism industry, similar to the impact seen during economic recessions.”
4. Be Specific and Concise:
- Use “recession” when you want to precisely convey an economic downturn, as opposed to using more general terms like “downturn” or “slump.”
- Example: “The housing market witnessed a significant downturn, leading to speculation about an impending recession.”
5. Consider Alternate Meanings:
- Remember that “recession” can also mean a withdrawal or moving back from a previously achieved position or level. Use it in this sense when discussing physical or metaphorical regressions.
- Example: “The recession of the glacier demonstrated the impact of global warming on environmental changes.”
6. Use Appropriate Tone and Vocabulary:
- Adjust your tone and vocabulary based on your audience and the context. In formal discussions or presentations, use the word “recession” professionally. In casual conversations, you might opt for simpler terms or examples.
7. Practice and Listen:
- Listen to how others use the word “recession” in conversations or presentations to understand its natural flow and context.
- Practice using it in different sentences to become comfortable with its usage in various contexts.
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