From Statistics Explained
A business cycle describes the expansions and contractions of economic activity in an economy over a period of time.
The economy considered may be a country, the euro area or the European Union (EU). The evolution of economic activity is expressed as a percentage change of an economic indicator: production, hours worked, employment, gross domestic product (GDP), etc. The business cycle is usually represented in a graph showing the ups and downs of economic growth over time.
- Industry and construction statistics - short-term indicators
- Services statistics - short-term indicators
- National accounts and GDP