Okuzeka
Economics vocabulary · GDP and Growth

Downturn

Meaning in economics, with examples

nounCommon term

In economics, downturn means: A period when economic activity, sales or prices fall or grow much more slowly; a general word that may or may not mean a full recession.

In Turkish: durgunluk, gerileme, daralma dönemi

How it is used

A softer, less technical word than recession, popular in business news: an economic downturn, a downturn in the housing market. Firms prepare for, survive or weather a downturn. The opposite is an upturn.

Example sentences

  1. Many small firms did not survive the downturn.

  2. The downturn in the housing market has hit construction jobs hard.

Common collocations

  • an economic downturn
  • a sharp downturn
  • weather the downturn
  • a downturn in
  • recessionA significant fall in economic activity lasting months, with falling output, income and jobs; often defined as two quarters in a row of shrinking GDP.
  • recoveryThe period after a recession or crisis when output, jobs and incomes start to grow again and move back towards their earlier level.
  • business cycleThe repeated pattern of ups and downs in economic activity, moving from expansion to a peak, then to contraction and a low point, and back to recovery.
  • headwindsConditions that make economic progress harder, such as high interest rates, weak demand abroad or rising energy prices.

More terms: GDP and Growth

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This page explains English vocabulary for learners. It is not financial advice.