Konjunkturális

Konjunkturális is a Hungarian adjective used in economics to describe phenomena or measures related to the business cycle. It derives from konjunktúra, referring to the cyclical conjuncture of an economy—periods of expansion and contraction. In analysis, konjunkturális factors are those driven by the cyclical component of aggregate demand and output, as opposed to structural or long-term trends.

In practice, konjunkturális indicators or effects reflect short- to medium-term fluctuations. For example, konjunkturális kereslet refers to demand that rises during upswings and falls during downturns; konjunkturális munkanélküliség describes unemployment linked to the cycle rather than to lasting, structural problems. The distinction between konjunkturális and struktúrális (structural) factors is common in economic reporting and policy discussions.

The term is frequently used to describe the basis for policy responses aimed at stabilizing the economy. Konjunkturális gazdaságpolitika or konjunkturális intézkedések refer to counter-cyclical measures—such as fiscal or monetary actions designed to moderate the amplitude of business-cycle fluctuations. Analysts may decompose economic data into konjunkturális (cyclical) and non-konjunkturális (non-cyclical) components to isolate temporary swings from persistent trends.

Overall, konjunkturális conveys the idea of temporary, cycle-driven variation within a broader, longer-term economic framework.