It’s not my definition. Economies that are heavily dependent upon manufacturing for export are verging on depression, if they’re not already in one, in my opinion.
But, governments and news media appear to be at pains to avoid using the term.
Well, if people start using the term depression they’ll change their behavior, hiring, purchasing and so forth even more than they already have. I can understand why the government wouldn’t use it. As far as the media goes, they’ll have egg on their face if they say “depression” and it’s wrong. 9% unemployment here in the USA isn’t what we saw in the great depression. It’s better by far. The length of this recession is now at 16 months, which makes it the longest recession in history if it doesn’t lift by the end of the quarter.