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In general, the business cycle is said to go through expansion, then the peak, followed by contraction, and then it finally bottoms out with the trough.
Cycle forecasting is the process of making predictions about the future of the economy by analyzing economic data. The business cycle is the pattern of economic booms and busts that is characteristic of developed economies. Since the Great Depression, which began in 1929, the U.S. economy has experienced alternating periods of rapid economic growth and economic slowdowns.