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In economics, a trough is a low turning point or a local minimum of a business cycle. The time evolution of many economics variables exhibits a wave-like behavior with local maxima (peaks) followed by local minima (troughs). A business cycle may be defined as the period between two consecutive peaks. [1] [2]
The problem of how business cycles come about is therefore inseparable from the problem of how a capitalist economy functions. In the United States, it is generally accepted that the National Bureau of Economic Research (NBER) is the final arbiter of the dates of the peaks and troughs of the business cycle. An expansion is the period from a ...
The NBER defines an expansion as a period when economic activity rises substantially, spreads across the economy, and typically lasts for several years. [1] During the 19th century, the United States experienced frequent boom and bust cycles. This period was characterized by short, frequent periods of expansion, typically punctuated by periods ...
A recession begins when the economy reaches a peak of economic activity and ends when the economy reaches its trough. ... of the business cycle. There are periods of economic growth and periods of ...
The reference dates of the United States' business cycles are determined by the Business Cycle Dating Committee of the National Bureau of Economic Research (NBER), which looks at various coincident indicators such as real GDP, real personal income, employment, and sales to make informative judgments on when to set the historical dates of the peaks and troughs of past business cycles.
Trough (economics), the lowest turning point of a business cycle as metaphor for political corruption , in the contexts of crony capitalism , nepotism , and public economics Other uses
Biden is basically in a game of chicken with the business cycle. One tolerable scenario for him would have been to get a mild recession over and done with in 2023, so a recovery would be well ...
The 2025 New Year’s Eve numerals are seen on display in Times Square on December 18 in New York City. (Michael M. Santiago/Getty Images)