Cryptic crossword clue
Tail end of appalling economic contraction 9

The most common and most likely answer to this crossword clue is the 9 letter word DEFLATION

D
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The cryptic/wordplay part
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This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
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What does DEFLATION mean?

DEFLATION noun
  1. An act or instance of deflating.
  2. A decrease in the general price level, that is, in the nominal cost of goods and services as well as wages.
  3. An economic contraction.

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