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What does recession mean?

Looking for the meaning or definition of the word recession? Here's what it means.

Noun
  1. The act or an instance of receding or withdrawing.
  2. A period of reduced economic activity
  3. The ceremonial filing out of clergy and/or choir at the end of a church service.
  4. The act of ceding something back.
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During the early '80s, the United States entered another recession, and Reaganite economics took hold.
As the economic recession abated, its relevance receded in popular culture.
Retiring the torsion bars used previously in 4x4 applications was the key to adding recession in the front suspension.
Plus, we could well be on our way into a double-dip recession three years from now once the fiscal and monetary stimulus is withdrawn.
Should November's figures show a significant drop, it would suggest that a double-dip recession had become more likely.
The country is in deep recession, yet the government has cut its spending by about 40 percent this year.

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