economic decline
/ɪ.kən.ɒm.ɪk.dɪ.klaɪn/ · e.co.nom.ic.de.cline
noun
- A decrease or reduction in economic activity, often resulting in a decrease in the standard of living, employment, or economic output. The country's economic decline was attributed to a combination of factors, including a decline in exports and a rise in inflation.
- A period of economic downturn or recession, characterized by a decrease in economic activity and a rise in unemployment. The economic decline of the 1930s led to widespread poverty and social unrest.
Synonyms
economic downturnrecessiondepressioneconomic contractioneconomic stagnationeconomic slumpeconomic crisiseconomic hardship
Antonyms
Did you know? The term 'economic decline' is often used to describe a period of economic downturn, but it can also refer to a gradual decrease in economic activity over time.