Great Recession

American

[greyt ri-sesh-uhn] / ˈgreɪt rɪˈsɛʃ ən /

noun

the period of economic contraction in the United States and other countries from December 2007 to June 2009 following the collapse of a housing bubble that precipitated a subprime mortgage crisis and subsequent systemwide turmoil in the investment banking sector.

Example Sentences

Examples are provided to illustrate real-world usage of words in context. Any opinions expressed do not reflect the views of Dictionary.com.

“Financing risk to support the company’s transition to a capital-intensive business has pushed Oracle’s credit default swaps to the highest levels since the Great Recession,” he wrote.

From MarketWatch

“Undercover Boss” premiered during the Great Recession, when the wage gap had yawned into a canyon.

From Salon

You’re young, you’re in good financial shape and assuming the stock market continues to adhere to historical averages and your early retirement is not hit by another Great Recession.

From MarketWatch

Federal Reserve economists recently said that auto-loan delinquencies — balances that are at least 30 days past due — rose to 3.9% in the third quarter of 2025, up slightly from 3.8% in the second quarter and the highest rate since the period following the Great Recession.

From MarketWatch

The major rap on him as an economic policy sage originated during the Great Recession, when he continued to counsel higher interest rates to combat inflation while the inflation rate was in the 2% to 3% range.

From Los Angeles Times

Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023