"a decline," 1926 in an economic sense, from the prepositional phrase; see down (adv.) + turn (n.).
Entries linking to downturn
down adv.
"in a descending direction, from a higher to a lower place, degree, or condition," late Old English shortened form of Old English ofdune "downwards," originally of dune "off from (the) hill," from dune "from the hill," dative of dun "hill" (see down (n.2)). The "hill" word is general in Germanic, but this sense development is peculiar to English. As a preposition, "in a descending direction upon or along," from late 14c.
To be down on "express disapproval of" is by 1851. Down home is from 1828 as "in one's home region," as an adjective phrase meaning "unpretentious" by 1931, American English. Down the hatch as a toast is from 1931. Down to the wire is 1901, from horse-racing.
Down Under "Australia and New Zealand" attested from 1886; Down East "Maine" is from 1825; Down South "in the Southern states of the U.S." is attested by 1834. Down the road "in the future" is by 1964, U.S. colloquial. Down-to-earth "everyday, ordinary, realistic" is by 1932.
turn n.
c. 1200, "action of rotating," from Anglo-French tourn (Old French torn, tour), from Latin tornus "turning lathe;" also partly from turn (v.). Meaning "an act of turning, a single revolution or part of a revolution" is attested from late 15c. Sense of "place of bending" (in a road, river, etc.) is recorded from early 15c. Meaning "beginning of a period of time" is attested from 1853 (as in turn-of-the-century, from 1921 as an adjectival phrase).
Sense of "act of good will" is recorded from c. 1300. Meaning "spell of work" is from late 14c.; that of "an individual's time for action, when these go around in succession" is recorded from late 14c. The automatic automobile turn-signal is from 1915. Turn-sick "dizzy," is attested from early 15c. Phrase done to a turn (1780) suggests meat roasted on a spit. The turn of the screw (1796) is the additional twist to tighten its hold, sometimes with reference to torture by thumbscrews.