business cycle
US /ˈbɪz.nɪs ˌsaɪ.kl̩/
UK /ˈbɪz.nɪs ˌsaɪ.kl̩/
1.
a cycle or series of cycles of economic expansion and contraction
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Economists closely monitor the business cycle to predict future trends.
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During a recession, the business cycle is in a contraction phase.