great recession: meaning, definition, pronunciation and examples
C1Academic, journalistic, business analysis, historical discourse.
Quick answer
What does “great recession” mean?
A severe and prolonged global economic downturn that began in December 2007 and lasted until June 2009, most acute in the United States and Europe.
Audio
Pronunciation
Definition
Meaning and Definition
A severe and prolonged global economic downturn that began in December 2007 and lasted until June 2009, most acute in the United States and Europe.
A proper noun referring specifically to the worldwide economic crisis of the late 2000s, often characterized by a collapse in financial markets, a sharp increase in unemployment, and a significant decline in GDP and industrial production. It is often compared in severity to the Great Depression of the 1930s.
Dialectal Variation
British vs American Usage
Differences
The term is used identically to refer to the same global event. However, British media and academia may reference its specific impact on the UK (e.g., the UK banking crisis, austerity measures) more frequently than American sources.
Connotations
Connotes systemic financial failure, government bailouts, austerity politics, and long-term economic scarring in both varieties.
Frequency
Equally frequent in serious economic and historical discussion in both regions. Slightly more common in American media as the crisis originated in the US housing market.
Grammar
How to Use “great recession” in a Sentence
The Great Recession + past tense verb (began, ended, caused)Subject + during/after/since the Great RecessionVocabulary
Collocations
Examples
Examples of “great recession” in a Sentence
adjective
British English
- The bank's Great Recession-era policies are still debated.
- He made a post-Great Recession career change.
American English
- Great Recession-related job losses were severe.
- It was a classic Great Recession story of foreclosure.
Usage
Meaning in Context
Business
Used to benchmark current performance: 'Our worst sales figures since the Great Recession.'
Academic
Used in economic history, political science, and sociology to analyse causes, effects, and policy responses.
Everyday
Used as a temporal reference point: 'We lost our house during the Great Recession.'
Technical
In economics, used to denote a specific period of contraction meeting the technical definition of a recession but of exceptional depth and duration.
Vocabulary
Synonyms of “great recession”
Strong
Neutral
Weak
Vocabulary
Antonyms of “great recession”
Watch out
Common Mistakes When Using “great recession”
- Writing in lower case ('great recession').
- Using it to refer to any subsequent recession (e.g., the 2020 downturn).
- Confusing it with 'Great Depression' (1930s).
FAQ
Frequently Asked Questions
No. The Great Depression was a far more severe, decade-long global economic catastrophe in the 1930s. The Great Recession (2007-09) was serious but shorter and less deep, though it is the worst economic crisis since the Great Depression.
In the United States, the National Bureau of Economic Research (NBER) dates the recession from December 2007 to June 2009. However, the recovery was slow, and effects were felt globally for years after.
The primary cause was the collapse of the US housing bubble, which led to a crisis in the financial sector due to widespread defaults on subprime mortgages and complex, risky financial products tied to them.
Yes, when referring specifically to the 2007-09 event, it is a proper noun and should be capitalised, similar to 'World War II' or 'the Renaissance'. In lowercase, 'a great recession' would just mean a particularly bad but unnamed recession.
A severe and prolonged global economic downturn that began in December 2007 and lasted until June 2009, most acute in the United States and Europe.
Great recession is usually academic, journalistic, business analysis, historical discourse. in register.
Great recession: in British English it is pronounced /ˌɡreɪt rɪˈseʃn/, and in American English it is pronounced /ˌɡreɪt rɪˈseʃn/. Tap the audio buttons above to hear it.
Phrases
Idioms & Phrases
- “[Not applicable for proper noun historical events]”
Learning
Memory Aids
Mnemonic
Think: 'Great' as in 'large-scale', not 'wonderful'. It was a 'great' (big) problem, leading to a 'recession' (economic shrink). The 'GR' can also stand for 'Global Ruin' it caused for many.
Conceptual Metaphor
AN ECONOMIC DOWNTURN IS A DEEP HOLE / VALLEY (e.g., 'the economy plunged into the Great Recession', 'climbing out of the Great Recession').
Practice
Quiz
Which of the following best describes the 'Great Recession'?