Definition: Growth cycle

Category: OECD - Business tendency surveys

Growth cycles are recurrent fluctuations in the series of deviations from trend. Growth cycle contractions include slowdowns as well as absolute declines in activity, whereas business cycle contractions include only absolute declines (recessions). http://ec.europa.eu/eurostat/ramon/statmanuals/files/OECD_Business_Tendency_Surveys_Handbook_EN.pdf
Source:
Organization for Economic Cooperation and Development (OECD), "Business Tendency Surveys - A Handbook", OECD, Paris, 2003
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