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A decline in economic activity is visible across a majority (but not necessarily all) of sectors for a continued period of time, generally lasting two or more quarters. Within a recession, say, there may be brief periods in which the economy exhibits positive growth.Similarly, within an expansion there may be a few months of weak economic activity.
Creating a BCDC will go a long way in maintaining transparency, strengthening the information base for the Indian economy and helping gauge better the changing nature of the Indian economy.
This will also help India to be more in synchronization with the other developed and emerging market economies.
Expansions are the period between a trough and the subsequent peak, both excluded.
Although most of the literature uses this timing convention, it is by no means universal.
To sign up to our monthly Euro COIN alerts, please fill in this provides a forum for the better understanding of the euro area business cycle by bringing together researchers and policymakers in universities, central banks and other policy institutions.
The Network aims to become a definitive source of data and research on the euro area economies and, over time, to help define the economic research agenda for the Euro Area.
The CF dates turning points, peaks and troughs, of economic activity but not recessions and expansions directly.
Recessions are usually considered the period between a business cycle peak and the subsequent trough, both included.
The scarcity of research for studies of business cycles in India along with data limitations might be some of the reasons why policymakers in India are not too concerned about this issue.
Business cycles are the short-run fluctuations in aggregate economic activity around its long-run growth path.