slippage

Slippage describes an unwanted movement away from what was intended, expected, or controlled. Sometimes the meaning is literal: a hand loses its hold, a tire loses traction, or a machine part shifts out of place. Just as often, it is used in a broader way to talk about progress, quality, or performance. A project can suffer schedule slippage when it starts running late, and a company can show slippage in standards when its work becomes less careful or less consistent.

In financial markets, slippage has a more exact meaning. It is the difference between the price a person expected when placing a trade and the price actually received when the order was filled. This usually happens when prices move quickly or when there is not enough liquidity at the expected price. In that context, the word does not mean a general decline; it means a gap between expectation and result during execution.

The word can also suggest a gradual weakening in control or discipline. People may talk about slippage in rules, safety, or ethics when standards begin to loosen over time. Across these uses, the core idea stays the same: something has shifted away from the desired position, timing, or outcome.