Meaning of Great Recession | Babel Free

Definitions

The worldwide general economic decline towards the end of the first decade of the 21st century.

Equivalents

Examples

“Income inequality usually shrinks during a recession, but in the Great Recession, it didn’t. From 2007 to 2009, the most-recent years for which data are available, it widened a little. […] It’s hard to miss just how unevenly the Great Recession has affected different classes of people in different places.”

“This was before the financial crash, before the Great Recession. The amazing real-estate bubble had not yet popped, and the economy was still apparently rocking.”

“But starting a rocket company is what Musk did — and, after also pouring money into another money-burning venture, Tesla, Musk came very close to losing it all after the Great Recession.”

CEFR level