Dic: recede, recession

■ recede

vb (intr)

1. to withdraw from a point or limit; go back : the tide receded
2. to become more distant : hopes of rescue receded
3. to slope backwards : apes have receding foreheads
4. 
   a) (of a man's hair) to cease to grow at the temples and above the forehead
   b) (of a man) to start to go bald in this way
5. to decline in value or character
6. (usually foll by from) to draw back or retreat, as from a promise

Etymology:
C15 from Latin recēdere to go back, from RE- + cēdere to yield, CEDE

■ recession

1. a temporary depression in economic activity or prosperity
2. the withdrawal of the clergy and choir in procession from the chancel at the conclusion of a church service
3. the act of receding
4. a part of a building, wall, etc., that recedes

.... Collins English