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Meaning of recession

re•ces•sion

Pronunciation: (ri-sesh'un), [key]
— n.
  1. the act of receding or withdrawing.
  2. a receding part of a wall, building, etc.
  3. a withdrawing procession, as at the end of a religious service.
  4. a period of an economic contraction, sometimes limited in scope or duration. Cf.(def. 7).

re•ces•sion

Pronunciation: (rē-sesh'un), [key]
— n.
  1. a return of ownership to a former possessor.
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.
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