A predictable long-term pattern of alternating periods of economic growth (recovery) and decline (recession), characterized by changing employment, industrial productivity, and interest rates. Also called economic cycle.

• 是指整个国家经济活动在扩张和收缩之间的不断循环。其周期分为繁荣、衰退、萧条和复苏四个阶段，以雇员，工业生产率和利率变动为特征，也叫经济周期。