Use 'downturn' mainly to talk about economic issues or periods of reduced success. After the financial crisis, the country experienced a prolonged economic downturn.
Pro Tip 2/3
Business Context
'Downturn' is often used in a business context to describe a decline in profits or markets. Due to the market downturn, several investment funds saw a decline in value.
Pro Tip 3/3
Not Always Economy
While common in economic context, 'downturn' can also describe decreases in non-economic areas. The pop band's popularity faced a downturn after the lead singer left.