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When using the term of the question, that being "current slide" it can be used accurately in several ways. Basically it means "down turn". So if the topic is the economy and the economy is experiencing trouble by a loss of growth, or in fact there is negative growth, the economy is in a down slide.

When speaking about an industry in the economy, for example automobile sales, then it can be said that the car industry is in a down slide.

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Q: What is the definition of current slide?
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