Expansion
The phase of the business cycle when the economy moves from a trough to a peak. It is a period when business activity surges and gross domestic product expands until it reaches a peak.
Also known as an "economic recovery". Investopedia Says:
An expansion is one of two basic business cycle phases. The other is contraction. The transition from expansion to contraction is termed a "peak" and the changeover from contraction to expansion is a trough. Expansions last on average about three to four years but have been known to last anywhere from 12 months to more than 10 years. Much of the '60s was a time of expansion which lasted almost nine years. Related Terms:
Business Cycle
Contraction
Growth Recession
National Bureau Of Economic Research
Peak
Recession
Trough |