DOWNTURN Meaning and
Definition
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Downturn is a noun that refers to a significant and prolonged decline or decrease in economic, financial, or business activity. Typically, it is characterized by a contraction in various aspects of the economy, such as reduced consumer spending, lowered production levels, decreased employment opportunities, and declining profits. A downturn can be localized, affecting a specific industry or region, or it can be more widespread, impacting an entire country or even the global economy.
In a downturn, there is generally a decline in the overall economic growth rate, which may result in negative Gross Domestic Product (GDP) growth. It often signifies a shift from a period of prosperity and expansion to one of economic recession or contraction. Factors that can contribute to a downturn include changes in government policies, economic imbalances, financial crises, natural disasters, inflation, or international conflicts.
During a downturn, businesses may struggle to survive due to reduced demand and revenue, leading to layoffs, downsizing, and bankruptcies. The overall impact on individuals can include job losses, reduced income, decreased consumer confidence, and increased financial hardships.
Economists and policymakers closely monitor downturns as they can have significant social and political implications. Governments often implement measures to mitigate the effects of a downturn and stimulate economic recovery, such as fiscal stimulus packages, monetary policy adjustments, and regulatory interventions.
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Etymology of DOWNTURN
The word "downturn" has a combination of two components: "down" and "turn".
The term "down" comes from the Old English word "dūne", which means "from a higher to a lower position". It has links to various Germanic languages, such as German "nieder" and Dutch "neer". "Down" has been used in English to indicate a lowering, worsening, or decline in various contexts.
The word "turn" originates from the Old English word "turnian", which means "to rotate" or "to revolve". It has cognates in other Germanic languages, including German "drehen" and Dutch "draaien". "Turn" refers to a shift or change in direction or position.
The combination of "down" and "turn" in "downturn" suggests a shift or change that leads to a lowering or decline.
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