Recession /(rē̇*sĕsh"ŭn)/

Re·ces·sion

Recession

n.
  1. The act of receding or withdrawing, as from a place, a claim, or a demand.
    Mercy may rejoice upon the recessions of justice.
  2. A period during which economic activity, as measured by gross domestic product, declines for at least two quarters in a row in a specific country. If the decline is severe and long, such as greater than ten percent, it may be termed a depression. (Economics)
  3. A procession in which people leave a ceremony, such as at a religious service.

Recession

n.
  1. The act of ceding back; restoration; repeated cession; as, the recession of conquered territory to its former sovereign.