Word Spy - growth recession

n. A form of recession in which economic output continues to grow, but at a much slower pace than normal.

Example Citation:

"Defining a recession used to be easy. It was broadly defined as two or more consecutive quarters of falling economic output. Now, economists have taken to adding adjectives:

One favorite: a 'growth recession,' which is meant to describe an economy growing at 2% or less. (Nevermind that 2% used to be considered normal growth.)"
—Dina Temple-Raston, "Greenspan faces 'tricky' task today," USA Today, February 13, 2001

Notes:

A growth recession is most popularly known as a soft landing. The latter is also called a Downy landing, after the Downy fabric softener:

"[A] growth recession ... is a close cousin to economic 'soft landing' or 'Downy landing.'"
—David Olive, "Modern business usage," The National Post, Match 1, 2001

Category:

Economics

Posted on March 6, 2001