New Zealand Business Cycle Trough
With data revisions now complete, we can determine that the most recent business cycle trough date for New Zealand was May 2009.
Click here for the complete international business cycle chronology.
Business cycles – alternating periods of recession and recovery – are part and parcel of all free-market economies. Before there was a committee to determine U.S. business cycle dates, ECRI co-founder Geoffrey H. Moore decided all those dates on the NBER’s behalf from 1949 to 1978, and then served as the committee’s senior member until he passed away in 2000. Using the same approach, ECRI has long determined recession start and end dates for 20 other countries.
Growth rate cycles – alternating periods of accelerating and decelerating economic growth – occur within business cycles. Growth rate cycle downturns can culminate in either recessions or soft landings that are followed by a reacceleration in economic growth. Using an approach analogous to that used to determine business cycle dates, ECRI has established growth rate cycle chronologies for more than 20 countries. Growth rate cycles are especially relevant to cyclical fluctuations in securities markets.