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French Equivalent: Cycle conjoncturel

Business cycles are a type of fluctuation found in aggregate economic activity of nations that organise their work mainly in business enterprises.

A cycle consists of expansions occurring at about the same time in many economic activities, followed by similarly general recessions, contractions and revivals which merge into the expansion phase of the next cycle. This sequence of changes is recurrent but not periodic.

In duration business cycles vary from one year to ten or twelve years. They are not divisible into shorter cycles of similar character with amplitudes approximating their own.

Source Publication:
Statistical Indicators of Cyclical Revivals, A.F. Burns, W.C. Mitchell NBER, New York, 1938.

Cross References:
Business cycles, OECD CLI

Version Indicator: Other

Statistical Theme: Short-term economic statistics

Created on Tuesday, September 25, 2001

Last updated on Monday, March 03, 2003