1. A period, shorter than an economic depression, during which there is a decline in commercial trade and prosperity: Many people have lost their jobs during the recent recession.

A recession is considered by some economists as the period between when financial conditions have reached their peaks and then declined to their lowest levels.

2. The withdrawal of participants in a ceremony: The clergy and the choir left in a recession after the church service.
3. The process of going back or becoming more distant: The people in the community were happy to see the recession of the floodwaters.