Trough (economics)

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In economics, a trough is a low turning point or a local minimum of a business cycle. The time evolution of many economics variables exhibits a wave-like behavior with local maxima (peaks) followed by local minima (troughs). A business cycle may be defined as the period between two consecutive peaks.[1][2]

The period of the business cycle in which real GDP is increasing is called the expansion, in which the real GDP moves from the trough towards the peak.[3]

## References

1. ↑ Hyman, David N. (1992) (in en). Economics. Irwin. pp. 621. ISBN 9780256111606. https://books.google.com/books?id=cRf6CMvnty8C.
2. ↑ Hafer, Rik W. (2005-07-30) (in en). The Federal Reserve System: An Encyclopedia. ABC-CLIO. pp. 46. ISBN 9780313062742. https://books.google.com/books?id=UXBgnJ6vARQC.
3. ↑ Picardo, Elvis (2003-11-25). "Business Cycle" (in en-US). Investopedia. https://www.investopedia.com/terms/b/businesscycle.asp.

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