What Is an Economic Downturn?

Economic prosperity refers to a state of prosperity in which the overall economy is on the rise and presents a booming market and an accelerated economic growth. Economic downturn refers to the development trend of the overall economy. Most economic activities are contracting or semi-contracting, showing weak markets, stagnant or sluggish economic growth, bankruptcy and collapse of many enterprises, and increased unemployment.

Economic boom

Boom is right

The economic cycle is also called economic fluctuation, also called economic cycle. Business cycles are divided into classical cycles and modern cycles. A standard business cycle usually includes two periods of expansion and contraction, and they can be broken down into two phases. Therefore, the business cycle can be divided into four phases: recovery, high, recession and depression. The economic state of the economy is described by a series of economic indicators, called the prosperity index.