1. An economy experiencing a period of reduced economic activity, negative growth, or recession
The country's declining economy has led to increased unemployment.
A economia em declínio do país levou ao aumento do desemprego.
2. A state of economic downturn characterized by falling GDP, reduced consumer spending, and business contraction
The global financial crisis resulted in a declining economy across multiple sectors.
A crise financeira global resultou em uma economia em declínio em múltiplos setores.