conjunctuurcycli
Conjunctuurcycli, also known as business cycles, refer to the recurring, but not perfectly predictable, fluctuations in economic activity that an economy experiences over time. These cycles consist of periods of expansion, when the economy grows, and periods of contraction, or recession, when economic activity declines. The typical phases of a business cycle are expansion, peak, contraction, and trough.
During an expansion, key economic indicators such as GDP, employment, and industrial production tend to rise.
A peak marks the highest point of economic activity in a cycle. After the peak, the economy
A trough represents the lowest point of economic activity before recovery begins. Following the trough, the