The economic output is rising and is expected to continue rising in the coming months, the economy is currently in the expansion stage of the business cycle.
The business cycle consists of the following stages which changes with time;
- Expansion stage: continuous rise in economic output.
- Peak stage: maximum economic output.
- Contraction (recession) stage: a continuous decline in economic output.
- Trough stage: the point of lowest economic output.
Thus, when the economic output is rising and is expected to continue rising in the coming months, the economy is currently in the expansion stage of the business cycle.
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