economic situation
noun phraseUK /ˌiːkəˈnɒmɪk ˌsɪtʃuˈeɪʃən/
US /ˌiːkəˈnɑːmɪk ˌsɪtʃuˈeɪʃən/
How much money a person, family, or country has and how easily they can buy things.
The family's economic situation improved after both parents found new jobs.
SYNONYMS
OTHER MEANINGS
2. The overall state of a country's money, jobs, and business activity.
The report described the country's economic situation as stable but slow-growing.
3. A person's or household's level of income and ability to pay for needs.
Scholarships help students from a difficult economic situation afford college.
4. The financial health of a company or industry at a given time.
The airline's economic situation worsened when fuel prices rose.