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[–] Meggoca ago 

"Rescission" = the revocation, cancellation, or repeal of a law, order, or agreement. In contracts, the abrogation of a contract, effective from its inception, thereby restoring the parties to the positions they would have occupied if no contract had ever been formed.

"Recession" = a period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.

I think you're looking for the latter...