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Definition of retraction : 1. The act of retracting or shortening; as, the retraction of a severed muscle; the retraction of a sinew.
2. The act of retracting, or drawing back; the state of being retracted; as, the retraction of a cat's claws.
3. The act of withdrawing something advanced, stated, claimed, or done; declaration of change of opinion; recantation.
4. The state or condition of a part when drawn back, or towards the center of the body.

Synonyms:

forswearing, rescindment, recantation, stand-down, palinode, disowning, contradiction, reneging, abjuration, about-face, accept, negative, renouncing, gainsaying, backing down, reversal, contraversion, unsaying, recall, disclaimer, quashing, retractation, backpedaling, abrogation, setting aside

disavowal, neutralization, elimination, abnegation, destruction, extinguishment, cancellation, dissolution, disaffirmation, eradication, obliteration, dismissal, rejection, nullification, abolition, invalidation, disclamation, negation, abolishment, undoing, revocation, refutation, withdrawal, divorce, deletion, annulment, denial, repudiation

Usage examples:

• So when the reputed author- the article being anonymous- was, in 1849, proposed as a Fellow of the Astronomical Society, I joined- if I remember right, I originated- an opposition to his election, until either the authorship should be denied, or a proper retraction made. - "A Budget of Paradoxes, Volume II (of II)", Augustus de Morgan.
• But this, too, was no real retraction of his error. - "Historical Introductions to the Symbolical Books of the Evangelical Lutheran Church", Friedrich Bente.
• In basal meningitis, temporary squinting due to irritation of the ocular muscles, retraction of the head, and an excessively high temperature are usually prominent features. - "Manual of Surgery Volume Second: Extremities--Head--Neck. Sixth Edition.", Alexander Miles Alexis Thomson.