Seems both words mean "to cause"; what's the difference?
durch etwas bedingt
durch etwas verursacht
Both means caused by something.
But the first expresses the necessity of the condition expressed in durch etwas, while the second can easily include causation by happen chance.
durch die Rezession bedingt
Would be translated
caused by, or better, induced by the recession
One could see this clearly in these examples
bedingt entlassen means on parole, let go from prison with conditions, and conditions would be translated Bedingungen.
Verursachen says that something caused something (cause = Ursache), but one might only know in hindsight, because the cause was not a condition, just a catalyst or trigger.