Meaning of the word "business cycle" in English

What does "business cycle" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

business cycle

US /ˈbɪz.nɪs ˌsaɪ.kl̩/
UK /ˈbɪz.nɪs ˌsaɪ.kl̩/
"business cycle" picture

Noun

1.

a cycle or series of cycles of economic expansion and contraction

Example:
Economists closely monitor the business cycle to predict future trends.
During a recession, the business cycle is in a contraction phase.
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