TERMIUM Plus®

The Government of Canada’s terminology and linguistic data bank.

RECESSION [2 records]

Record 1 2024-02-22

English

Subject field(s)
  • Economics
CONT

Even during the rock-bottom recessionary year of 1982, Tokyo's prestigious Nomura Research Institute is forecasting average Far East growth of as high as 6 percent next year ...

French

Domaine(s)
  • Économique

Spanish

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Record 2 2021-05-05

English

Subject field(s)
  • Economic Fluctuations
DEF

A phase of the economic cycle that is characterized by a general decline in economic activity.

CONT

Recession is a normal, albeit unpleasant, part of the business cycle. Recessions are characterized by a rash of business failures and often bank failures, slow or negative growth in production, and elevated unemployment. The economic pain caused by recessions, though temporary, can have major effects that alter an economy. This can occur due to structural shifts in the economy as vulnerable or obsolete firms, industries, or technologies fail and are swept away; dramatic policy responses by government and monetary authorities, which can literally rewrite the rules for businesses; or social and political upheaval resulting from widespread unemployment and economic distress.

French

Domaine(s)
  • Fluctuations économiques
DEF

Phase du cycle économique caractérisée par un déclin général de l'activité économique.

CONT

Bien que les récessions puissent avoir des effets importants sur l'économie, elles font partie intégrante des cycles économiques : l'économie connait une phase d'expansion jusqu'à atteindre un sommet et pour enfin se rétracter. Un pays est considéré comme étant en récession lorsqu'il passe le pic de croissance et entre en phase de contraction économique.

Spanish

Campo(s) temático(s)
  • Fluctuaciones económicas
DEF

[Fase caracterizada por el] descenso relativamente pasajero de la actividad económica, de la producción y del consumo, con el consiguiente decrecimiento de los beneficios, salarios y nivel de empleo.

OBS

[La recesión es] menos profunda y grave que la depresión.

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