economic downturn JUST WRITTEN FOR YOU
/iˌkɒn.ɒm.ɪk dɜːrˈnaʊn/ · e-con-o-mic dawrn-down
noun
- A period of decline in economic activity, often characterized by a decrease in production, employment, and income. The economic downturn of 2008 led to widespread job losses and a significant decline in consumer spending.
noun
- A decline in economic activity, often resulting in a decrease in economic output and a reduction in the standard of living. The economic downturn in the region was exacerbated by a decline in agricultural production and a reduction in foreign investment.
Synonyms
Antonyms
Did you know? The term 'economic downturn' is often used interchangeably with 'recession', although some economists make a distinction between the two, with 'recession' referring to a decline in economic activity for two or more consecutive quarters.