depression

(noun)

A period of major economic contraction; officially, four consecutive quarters of negative, real GDP growth (according to NBER).

Related Terms

Examples of depression in the following topics:

  • General Economic Conditions

    • The four stages in the business cycle are: prosperity, recession, depression, and recovery (see and try to identify the different stages).
    • Depression represents the most serious economic downturn.

  • Product Line Depth

    • Yet there is stil serious risk to consider: unless there are markets for proliferation that will expand the brand's share, the newer forms will cannibalize the original product and depress profits.

  • Applicable Legislation

    • There was an unhealthy tension and costs rose, industries sought price increases, and regulators resisted, often depressing industry profits.