1. (n.) The act of receding or withdrawing, as from a place, a claim, or a demand.

2. (n.) The act of ceding back; restoration; repeated cession; as, the recession of conquered territory to its former sovereign.

abandonment alcove backset backsliding backward motion backward step bad times bay boom bottoming out business cycle business fluctuations bust capitulation cession cooling off corner cove crisis decline depression dip downturn economic cycle economic expansion economic growth economic stagnation evil day expanding economy expansion giving in giving over giving up growth hard times heavy weather high growth rate inglenook lapse low market expansion niche nook peak peaking pitchhole prosperity rainy day reaction recedence recess recidivation recidivism recovery reentry refluence reflux regress regression relapse relinquishment renunciation retreat retroaction retrocession retroflexion retrogradation retrogression retrusion return rollback sad times setback slowdown slump stagnation sternway stormy weather surrender throwback upturn