recessionary period
/rɪˈsɛʃənəri ˈpɪriəd/ · re·ces·sion·ar·y per·i·od
noun
- A span of time during which an economy experiences a recession, characterized by falling gross domestic product, rising unemployment, and reduced consumer spending. The 2008 financial crisis ushered in a prolonged recessionary period that lasted until mid‑2009.
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Did you know? The phrase "recessionary period" entered popular usage after the 1973 oil crisis, when economists needed a concise term to describe the recurring bouts of economic slowdown.