softness in the economy

softness in the economy
   a recession
   When it would seem, conversely, that times are hard:
    Instead he insists that the current campaign was planned five months ago and is running because of 'softness' in the economy. (Daily Telegraph, 29 October 1998, referring to advertising by a supermarket chain)

How not to say what you mean: A dictionary of euphemisms. . 2014.

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