Definition of the word recession

The word "recession" has its roots in Latin and has been used in the English language since the 15th century. The Latin word "recessus" means "a falling back" or "a going back", and it was used to describe a geological term, referring to the receding of a sea or a river. In the 16th century, the word "recession" was adopted in the English language and initially referred to a period of time when a country or an economy was experiencing a decline in its productive activities, such as agriculture or industry. Over time, the term evolved to specifically describe a period of decline in economic activity, characterized by a decline in GDP, employment, and income. In modern usage, a recession is defined as a period of at least two consecutive quarters of negative economic growth, usually marked by a decline in GDP. The term has become a widely used and important concept in economics and business, and is often used to describe and analyze economic cycles.