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Expansion is the phase of the business cycle when the economy moves from
The peak of the cycle refers to the last month before several key economic indicators, such as employment and new housing starts, begin to fall.
refers to a phase of the business cycle in which the economy as a whole is in decline. A contraction generally occurs after the business cycle peaks, but before it becomes a trough
the point in the business cycle between the end of a recession and the transition to accelerating GDP (gross domestic product) growth