During this period, the average business cycle lasted about five years; the average expansion had a duration of a little over four years, while the average recession lasted just under one year.The chart shows the periods of expansion and recession for the Composite Coincident Indicator Index from 1959 to 2002.
A business cycle is typically characterized by four phases—recession, recovery, growth, and decline—that repeat themselves over time.
This index, published by The Conference Board ( moves very closely in line with current economic conditions.
The chart plots the behavior of the Composite Coincident Indicator Index from 1959 to 2002.
Some business analysts use the business cycle model and terminology to study and explain fluctuations in business inventory and other individual elements of corporate operations.
But the term "business cycle" is still primarily associated with larger (industry-wide, regional, national, or even international) business trends.