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"The material prosperity of the United States is too firmly based, in our opinion, for a revival in industrial activity -- even if we have to face an immediate recession of some magnitude -- to be long delayed." ["Economist," Nov. 2, 1929]Ayto notes, "There was more than a hint of euphemism in the coining of this term." Recessive in genetics is 1900, from Ger. recessiv (Mendel, 1865).
recession re·ces·sion (rĭ-sěsh'ən)
The withdrawal or retreating of tissue from its normal position.
A general business slump, less severe than a depression.