Current recession (3,4)
I believe the answer is:
ebb tide
'current' is the definition.
(I've seen this before)
'recession' is the wordplay.
I cannot quite understand how this works, but
'recession' could be 'ebb' (I've seen this in another clue) and 'ebb' is present in the answer.
The remaining letters 'tide' is a valid word which might be clued in a way I don't understand.
This may be the basis of clue (or it may be nonsense).
Can you help me to learn more?
(Other definitions for ebb tide that I've seen before include "Decline in sea level" , "Oceanic reflux" , "Receding sea" , "When the sea is moving back from land" , "Outgoing sea flow" .)