The Economic Cycle

economic growth is high and above average

• Boom
• Slump
• Recession
• Recovery

economic growth is negative and well below average with falling GDP

• Boom
• Slump
• Recession
• Recovery

economic growth experiences sustained low growth with negative GDP and growth.

• Boom
• Slump
• Recession
• Recovery

economic growth is rising but still below average but starting to rise after a period of low or negative growth.

• Boom
• Slump
• Recession
• Recovery

Inflation is possibly rising or high

• Boom
• Slump
• Recession
• Recovery

Inflation likely falling or may be positive but still lower than previous periods of inflation.

• Boom
• Slump
• Recession
• Recovery

Inflation is very low or falling with a risk of deflation.

• Boom
• Slump
• Recession
• Recovery

Inflation is low but may be starting to fall, and the economy is likely moving from deflation to low inflation.

• Boom
• Slump
• Recession
• Recovery

Unemployment is low or rapidly falling and the labour market is experiencing a shortage of workers.

• Boom
• Slump
• Recession
• Recovery

Unemployment is stops falling and is starting to rise

• Boom
• Slump
• Recession
• Recovery