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Definition of: recession
(ri·sesh′ən) noun
1. The act of receding; a withdrawal.
2. The procession of the clergy, choir, etc., as they leave the chancel after a church service.
3. An economic setback in commercial and industrial activity; especially, one occurring as a downward turn during a period of generally rising prosperity; a slight depression. [<L recessio, -onis <recedere. See RECEDE1.]
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