'despite recession' is correct and usable in written English.
You can use it to suggest that something is happening or has happened in spite of challenging economic times. For example, "Despite recession, our company achieved impressive growth this year."
His support fell only slightly, despite recession and galloping unemployment.
Analysts noted that low mortgage rates had helped the housing market thrive despite recession.
Its present level is 390ppm and last year, despite recession, more carbon dioxide from fossil fuels poured into the atmosphere than ever before.
These gains are being achieved despite recession in the US and Europe, which in earlier times might have sent Africa into a tailspin.
In Venezuela, President Nicolás Maduro has defied many of his critics by remaining in power for a second year since he succeeded Hugo Chávez, despite recession, high inflation and a shortage of many basic goods.
That thought may have been buttressed last week by a front-page article in The New York Times showing how, despite recession jitters, hedge fund traders and other tycoons are buying $300,000 Bentleys and $35,000 bottles of Champagne.
Reagan, Nixon, Eisenhower and Truman all won despite recessions earlier in their terms.
Both have grudgingly adopted austerity to keep the euro crisis at bay, despite recessions and rising unemployment.
The presidents Dwight Eisenhower, Nixon and Reagan were each re-elected despite recessions that ended during their second year in office.
In your bones believe in capitalism and its basic ability, despite recessions and scandals, to better the human condition.
There are other contenders, despite the recession.
