What is cooling (of a market or economy)?

Cooling of a market or economy refers to a situation in which demand declines, price levels fall, the number of transactions decreases, and investments decrease, leading to a slowdown in growth. This phenomenon can occur in various sectors of the economy and is often seen as a warning of a possible recession or a period of economic weakness.

Example: "The economic growth of the United States cooled in the last quarter of 2015, with growth falling to 0.7 percent on an annual basis."