The Collaborative International Dictionary of English v.0.48:

Recede \Re*cede"\ (r[-e]*s[=e]d"), v. i. [imp. & p. p.
   Receded; p. pr. & vb. n. Receding.] [L. recedere,
   recessum; pref. re- re- + cedere to go, to go along: cf. F.
   rec['e]der. See Cede.]
   1. To move back; to retreat; to withdraw.
      [1913 Webster]

            Like the hollow roar
            Of tides receding from the insulted shore. --Dryden.
      [1913 Webster]

            All bodies moved circularly endeavor to recede from
            the center.                           --Bentley.
      [1913 Webster]

   2. To withdraw a claim or pretension; to desist; to
      relinquish what had been proposed or asserted; as, to
      recede from a demand or proposition.
      [1913 Webster]

   Syn: To retire; retreat; return; retrograde; withdraw;
        desist.
        [1913 Webster]

WordNet (r) 3.0 (2006):

receding
    adj 1: (of a hairline e.g.) moving slowly back
    n 1: a slow or gradual disappearance [syn: receding,
         fadeout]
    2: the act of becoming more distant [syn: receding,
       recession]

Moby Thesaurus II by Grady Ward, 1.0:

20 Moby Thesaurus words for "receding":
   declining, diminishing, dwindling, dying, ebbing, fading,
   recedence, recession, retirement, retiring, retractation,
   retractility, retraction, retreat, retreating, retrocedence,
   shrinking, sinking, waning, withdrawal