IPA: /rɪˈsɛʃən/
KK: /rɪˈsɛʃən/
A period when the economy is doing poorly, marked by a decrease in business activity and often resulting in job losses and lower spending.
During the recession, many people lost their jobs and struggled to make ends meet.
Recession is formed from "re-" (meaning back or again) and "cedere" (meaning to go or yield). The term describes a period where the economy goes back or yields to a lower state, indicating a decline.
Think of the economy 'going back' ('re-') or 'yielding' ('cedere') to a lower state during a recession.