Meaning of the word "favorable situation" in English

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

favorable situation

US /ˈfeɪ.vər.ə.bəl ˌsɪtʃ.uˈeɪ.ʃən/
UK /ˈfeɪ.vər.ə.bəl ˌsɪtʃ.uˈeɪ.ʃən/
"favorable situation" picture

Phrase

a set of circumstances that is likely to lead to success or a positive outcome

Example:
The low interest rates created a favorable situation for home buyers.
We need to wait for a more favorable situation before launching the product.