recessionglossary / RECESSION recession. A period characterized by a sharp slowdown in economic activity, declining employment, and a decrease in investment and consumer spending. Cf. DEPRESSION. 词条贡献者 法律翻译Virginia,毕业于一所旨在培养高级翻译专业人才的翻译院校,专注翻译各类与国际贸易与投资监管有关的法律文件。