Recession
Etymology
From Latin recessus, "a going back, retreat," from recedere (re-, "back," plus cedere, "to go"). The word long meant simply a withdrawal or receding. In the 1920s and 1930s economists adopted it as a deliberately gentler label than "depression" for a temporary retreat in business activity.
noun · /ri-SESH-un/
A significant, broad decline in economic activity that lasts more than a few months, typically marked by falling output, income, and employment.
What it names
It is the word for a downturn serious enough to reshape hiring and spending, yet milder than an outright collapse — useful for gauging how cautious to be.
Example
They postponed the expansion once it was clear the country had slipped into recession.
Related idea
A depression is a recession that is far deeper and longer — the difference is one of severity, not kind.
noun · /ri-SESH-un/
The act of receding — drawing back or gradually withdrawing from a position.
What it names
gums pulling back from teeth, a receding hairline, floodwaters drawing down
Example
The dentist warned that gum recession had exposed the roots.
Related idea
The same “moving-back” image underlies the economic sense — activity drawing back across the board.