depression (economics)

An economic situation where demand is slack, order-books are low, firms dispense with staff, and profits are poor or absent. The Great Depression of the early 1930s (often referred to as the slump), which began in the USA, saw many bankruptcies and many millions of people out of work. A less severe form is a recession.

Depression may refer to:

Clinical depression, a medical condition identified by clusters of symptoms such as markedly-decreased mood, motivation, interest, energy levels, etc (also known as "severe depression disorder" or "major depression disorder"). Depression (mood), an everyday term for a sad or low mood or the loss of pleasure. Depression (geology), a sunken geological formation. Depression (economics), a longer-lasting and more severe economic downturn than a recession. The Great Depression, a severe economic recession in the 1930s. Depression (meteorology), an area of low atmospheric pressure associated with cyclones and weather fronts. Depression (physiology), a lowering, in particular a reduction in a particular biological variable or the function of an organ, contrasted to elevation.