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
Both words refer to a prolonged period of economic decline. Rezession is the more general term for such a period of weakness, whereas Depression refers to a significantly more severe and deeper downturn. Use Rezession for a general decline, and Depression only when the severity and duration are exceptional.
Wegen der Rezession ging die Wirtschaftsleistung mehrere Monate lang zurück.
Because of the recession, economic output declined for several months.
Die schwere Depression ließ die Produktion des Landes über Jahre stark sinken.
The severe depression caused the country's production to fall sharply for years.
