1. The decline in value of an asset due to economic factors such as obsolescence, market conditions, or reduced demand, rather than physical wear and tear.
The economic depreciation of the building was caused by urban decay and shifting market preferences.
A depreciação econômica do edifício foi causada pela deterioração urbana e mudanças nas preferências do mercado.
2. In accounting and economics, the loss in value of capital assets attributable to external economic conditions rather than normal wear and tear.
Economic depreciation affects property values in neighborhoods experiencing population decline.
A depreciação econômica afeta os valores das propriedades em bairros que experimentam declínio populacional.