Trough (Ofer Abarbanel online library)

In economics, a trough is a low turning point or a local minimum of a business cycle. The time evolution of many variables of economics exhibit a wave like behaviour 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]


  1. ^Hyman, David N. (1992). Economics. Irwin. p. 621. ISBN 9780256111606.
  2. ^Hafer, Rik W. (2005-07-30). The Federal Reserve System: An Encyclopedia: An Encyclopedia. ABC-CLIO. p. 46. ISBN 9780313062742.
  3. ^Picardo, Elvis (2003-11-25). “Business Cycle”. Investopedia. Retrieved 2018-09-27.


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