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The ups and downs of economic activity that an economy experiences over a period of time are portrayed as a business cycle. The term of the business cycle is basically used during the periods of expansion and recession. At the time of expansion, the growth of the economy is measured by the indicators like employment, sales, personal incomes and industrial production.
Frontiers of Business Cycle Research By Thomas F. Cooley (published by Princeton University Press, 1995)
Investment Timing and the Business Cycle By Jon Gregory Taylor (published by John Wiley & Sons, 1998)
11 business cycles have been registered from 1945 to 2009 according to the NBER, the average length of a business cycle last 69 months, may be little less than six years. 58.4 months are the average period on which the average expansion lasted, and 11.1 months is recorded as average contraction.
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