recession
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recession
A phase in the business cycle in which the economic output of a national economy declines over a longer period. Technically, people often speak of a recession when gross domestic product falls in two consecutive quarters.
Während der letzten Rezession mussten viele Unternehmen Mitarbeiter entlassen.
During the last recession, many companies had to lay off employees.
'Rezession' (recession) is a technical term from economics. Because of its importance, however, it is used very frequently in the news and in public discussion about the state of the economy.
Die Nachrichten berichten täglich über die drohende Rezession.
The news reports daily on the looming recession.
This word is often used in fixed phrases that describe the beginning or state of a recession. You will often hear 'in eine Rezession geraten' (to fall into a recession) or 'in eine Rezession rutschen' (to slide into a recession). If the state already exists, people say 'sich in einer Rezession befinden' (to be in a recession).
Die Wirtschaft des Landes ist in eine tiefe Rezession gerutscht.
The country's economy has slid into a deep recession.
Certain adjectives are often used to describe the severity of a recession. Typical combinations are 'eine schwere Rezession' (a severe recession), 'eine tiefe Rezession' (a deep recession), or 'eine leichte Rezession' (a mild recession).
Nach der Finanzkrise erlebte das Land eine schwere Rezession.
After the financial crisis, the country experienced a severe recession.
depression
'die Depression' and 'die Rezession' both describe a weak phase of the economy. 'Rezession' is the more precise and more common technical term for a longer decline in economic output. 'Depression' is stronger and means an especially severe economic crisis. Learners may confuse the words because both appear in economic news and both refer to a negative development. As a simple guide: a recession is a clear downturn; a depression is even deeper and more severe.
Die Rezession sorgt dafür, dass viele Unternehmen weniger investieren.
The recession is causing many companies to invest less.
Eine lange Depression kann die Wirtschaft eines Landes stark verändern.
A long depression can greatly change a country's economy.