hard landing
noun[C]
ECONOMICS,FINANCEukusasudden,bigdecreaseineconomicactivityand in themoneyavailableforloansfollowingaperiodofeconomicgrowth. A hardlandingis usually theresultof acentralbankraisinginterestratestoo much in anattempttocontrolinflation:
A hardlandingfor the USeconomycouldsendshock-waves through theglobalfinancialsystem.
Compare
soft landing