bleak; desolate · (economics) in a slump; sluggish; depressed

During the Depression in the 1930's, many wealthy people lost everything in the stock market crash.

Recession is a temporary falling off of business activity during a period when such activity is generally increasing.

When there was despair in the dust bowl and depression across the land, she saw a nation conquer fear itself with a New Deal, new jobs, a new sense of common purpose. Yes, we can.