majandustsüklit

Majandustsüklit, also known as business cycles, refers to the recurring pattern of expansion and contraction in the overall economic activity of a country or region. These cycles are characterized by fluctuations in key economic indicators such as gross domestic product (GDP), employment, industrial production, and inflation. While the exact duration and intensity of each cycle can vary, they generally follow a predictable sequence of phases.

The typical business cycle consists of four main phases: expansion, peak, contraction, and trough. Expansion is a period of sustained growth where the economy is producing more goods and services, unemployment is falling, and consumer spending is rising. This phase continues until the economy reaches its peak, which is the highest point of economic activity before a downturn begins.

Following the peak, the economy enters a contraction or recession. During this phase, economic activity slows down, GDP declines, unemployment rises, and businesses may reduce production or lay off workers. A recession is typically defined as two consecutive quarters of negative GDP growth. The contraction phase continues until the economy reaches its trough, the lowest point of economic activity before a recovery begins.

The recovery phase marks the beginning of a new expansion, where economic indicators start to improve, and the cycle begins anew. Understanding these cycles is crucial for policymakers, businesses, and individuals as it helps in forecasting economic trends and making informed decisions regarding investments, monetary policy, and fiscal stimulus. Economists study various factors, including changes in consumer confidence, investment levels, government spending, and global economic conditions, to analyze and predict the behavior of these cycles.