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I do not know any sources before 1910, but they would be worth pointing out to the Oxford
English Dictionary, as their earliest entry is dated 1929. Here it is:
 
1929 Economist 2 Nov. 806/1 The material prosperity of the United States is too firmly
based, in our opinion, for a revival in industrial activity even if we have to face an
immediate recession of some magnitude to be long delayed.
1930 Engineering 3 Jan. 21/2 The paramount problem is now whether this recession is yet at
an end.
1938 E. AMBLER Cause for Alarm i. 16 'Trade recession' they called it... As far as I could
see there wasn't a great deal of difference between a trade recession and a good old-
fashioned slump.
1958 Spectator 30 May 676/2 This is partly due to the continued inability of the United
States to pull itself out of recession.
1976 F. ZWEIG New Acquisitive Society II. iii. 99 The private sector, particularly in the
throes of recession, is limited in its ability to pay by the discipline of the market
system.
1981 Times 11 Mar. 19/4 The economy is now in deep recession. 
 
Daniele Besomi 
 
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