- turndown turn‧down [ˈtɜːndaʊn ǁ ˈtɜːrn-] noun [countable] ECONOMICSa situation in which there is less business done than before, when the economy becomes weaker etc:
• The first half of the year saw a turndown in consumer spending.
* * *turndown UK US /ˈtɜːndaʊn/ noun [C]► ECONOMICS a reduction in business activity in a particular area or in the economy in general: »
A wave of telecoms mergers and acquisitions was triggered across Europe after the dotcom turndown.► HR, BANKING a situation in which you are refused something that you apply for, such as a job or bank loan
Financial and business terms. 2012.