Source : Webster's Revised Unabridged Dictionary (1913)

Retraction \Re*trac"tion\, n. [Cf. F. r['e]traction, L.
   retractio a drawing back, hesitation.]
   1. The act of retracting, or drawing back; the state of being
      retracted; as, the retraction of a cat's claws.

   2. The act of withdrawing something advanced, stated,
      claimed, or done; declaration of change of opinion;
      recantation.

            Other men's insatiable desire of revenge hath wholly
            beguiled both church and state of the benefit of all
            my either retractions or ?oncessions. --Eikon
                                                  Basilike.

   3. (Physiol.)
      (a) The act of retracting or shortening; as, the
          retraction of a severed muscle; the retraction of a
          sinew.
      (b) The state or condition of a part when drawn back, or
          towards the center of the body.

Source : WordNet®

retraction
     n 1: a disavowal or taking back of a previous assertion [syn: {abjuration},
           {recantation}]
     2: the act of pulling or holding or drawing a part back; "the
        retraction of the landing gear"; "retraction of the
        foreskin"