Suggest day off, satisfying freaks? (7)

I believe the answer is:

signify

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'suggest' is the definition.
(thesaurus)

I don't understand the rest of the clue.

(Other definitions for signify that I've seen before include "Be an indication of" , "Have meaning" , "Show" , "Indicate or declare" , "Represent" .)

I've seen this clue in the Sydney Morning Herald.

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