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A "W-shaped" recovery means that we experience a false recovery that is followed by a second recession.

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W-shaped recovery represents the shape of the chart of certain economic measures such as employment, GDP, industrial output, etc.

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W-shaped” recovery is also known as a “double-dip” or a “second leg”. It refers to the risk of another free fall in economic activity after a very short period of recovery or stabilization.

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A W-shaped recession or "double dip" recession, occurs when the economy has a recession, emerges from the recession with a short period of growth, but quickly falls back into recession.

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A W-shaped recovery generally characterizes a period of extreme volatility compared to other types of recoveries. There are countless other shapes a recession and recovery chart could take, including L-shaped, V-shaped, U-shaped and J-shaped. Each shape represents the general shape of the chart of economic metrics that gauge economic health.

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An economic cycle of recession and recovery that resembles a "W" in charting. A W-shaped recovery represents the shape of the chart of certain economic measures such as employment, GDP, industrial output, etc. A W-shaped recovery involves a sharp decline in these metrics followed by a sharp rise back to the previous peak, followed again by a sharp decline and ending with another sharp rise. The middle section of the W can represent a significant bear market rally or a recovery that was stifled by an additional economic crisis.
A W-shaped recovery generally characterizes a period of extreme volatility compared to other types of recoveries. There are countless other shapes a recession and recovery chart could take, including L-shaped, V-shaped, U-shaped and J-shaped. Each shape represents the general shape of the chart of economic metrics that gauge economic health.

Source(s):

http://www.investopedia.com/terms/w/w-shaped- recovery.asp

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A type of economic recession and recovery that resembles a "V" shape in charting. Specifically, a V-shaped recovery represents the shape of the chart of certain economic measures, such as employment, GDP and industrial output. A V-shaped recovery involves a sharp decline in these metrics followed by a sharp rise back to its previous peak.
Investopedia explains V-Shaped Recovery
There are countless other shapes a recession and recovery chart could take, including L-shaped, W-shaped, U-shaped and J-shaped. Each shape represents the general shape of the chart of economic metrics that gauge the health of the economy

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investopedia.com

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A W-shaped recovery generally characterizes a period of extreme volatility compared to other types of recoveries. There are countless other shapes a recession and recovery chart could take, including L-shaped, V-shaped, U-shaped and J-shaped. Each shape represents the general shape of the chart of economic metrics that gauge economic health.

Source(s):

http://www.investopedia.com/terms/w/w-shaped- recovery.asp

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W-shaped recovery is an economic cycle of recession and recovery that resembles a "W" in charting. A W-shaped recovery represents the shape of the chart of certain economic measures such as employment, GDP, industrial output, etc. A W-shaped recovery involves a sharp decline in these metrics followed by a sharp rise back to the previous peak, followed again by a sharp decline and ending with another sharp rise. The middle section of the W can represent a significant bear market rally or a recovery that was stifled by an additional economic crisis.

Source(s):

http://www.investopedia.com/terms/w/w-shaped- recovery.asp