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recession
(redirected from Economic depression)

   Also found in: Medical, Financial, Encyclopedia, Wikipedia, Hutchinson 0.02 sec.
See: capitulation, decline, erosion, outflow

RECESSION. A re-grant: the act of returning the title of a country to a government which formerly held it, by one which has it at the time; as the recession of Louisiana, which took place by the treaty between France and Spain, of October 1, 1800. See 2 White's Coll. 516.



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The organization was formed in the summer of 1957 against a backdrop of economic depression -- a downturn that included the closure of Convair's aircraft manufacturing operations.
Some experts say that oil will hit US$200 a barrel within two years, and that a reduction in the oil supply would lead to a worldwide economic depression.
In October 1929 the stock market crashed, 40 percent of the paper values of common stock crashed with it, and the nation was soon plunged into its greatest economic depression.
 
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