economic contraction
GDP going down
Economic contraction is a decline in a country's economic output, the opposite of growth.
During a contraction, businesses produce less, employment falls, and consumer spending drops.
Two consecutive quarters of contraction constitute a recession.
The economic contraction following the financial crisis was the worst since the Great Depression.
- recessionProlonged economic decline
- downturnEconomic decline period
- slumpExtended period of decline
- declineDecrease or refuse
- negative growthEuphemism for economic decline
shrinkage · depression · slowdown · bust · market crash · crash · collapse · bottom falling out · layoffs · job losses · pink slips · unemployment · austerity · deflation · stagnation · tightening · tight money · retrenchment
economic contractioneconomic expansion
Sustained output increase
economic growth · GDP growth · expansion · growth · boom
economic contractionboom
Loud deep sound
economic boom · prosperity · economic prosperity · bull market · abundance
economic contractionrecovery
Regaining what was lost
economic recovery · upturn · economic upturn · upswing · boom period
economic, economy, economics, economical, economically, economist, economists, economies, econometrics