Definitions for magnetic dip
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Princeton's WordNet
dip, angle of dip, magnetic dip, magnetic inclination, inclination(noun)
(physics) the angle that a magnetic needle makes with the plane of the horizon
Wiktionary
magnetic dip(Noun)
The angle between magnetic north and the horizontal (as shown by a compass held vertically).
The Standard Electrical Dictionary
Magnetic Dip
The inclination from the horizontal assumed by a magnetic needle free to move in the vertical plane. (See Magnetic Elements.) The angle of dip or inclination is entirely a function of the earth, not of the needle.
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