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((more citations needed|date=April 2017))

((Economics sidebar))

In [[economics]], a '''trough''' is a low turning point or a [[Maxima and minima|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.<ref>((Cite book|url=https://books.google.com/books?id=cRf6CMvnty8C|title=Economics|last=Hyman|first=David N.|date=1992|publisher=Irwin|isbn=9780256111606|pages=621|language=en))</ref><ref>((Cite book|url=https://books.google.com/books?id=UXBgnJ6vARQC|title=The Federal Reserve System: An Encyclopedia|last=Hafer|first=Rik W.|date=2005-07-30|publisher=ABC-CLIO|isbn=9780313062742|pages=46|language=en))</ref>

The period of the business cycle in which real [[GDP]] is increasing is called the [[expansion (economics)|expansion]], in which the real GDP moves from the trough towards the peak.<ref>((Cite news|url=https://www.investopedia.com/terms/b/businesscycle.asp|title=Business Cycle|last=Picardo|first=Elvis|date=2003-11-25|work=Investopedia|access-date=2018-09-27|language=en-US))</ref>

==References==
((Reflist))

[[Category:Business cycle]]


((Business-stub))

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