The business cycle refers to the fluctuations in economic activity that an economy experiences over a period of time. It consists of expansion, peak, recession, trough, and recovery phases.
In economic terms, a trough signifies the lowest point in a business cycle, marking the end of a declining phase and the start of an expansion or recovery.
A financial term often used to describe a low point in economic activity, as seen in a 'trough' in the business cycle.
