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International Business Cycle Dates

International Business & Growth Rate Cycle Dates

Business cycles consist of alternating periods of expansion and contraction in the level of economic activity experienced by market-oriented economies.

Growth rate cycles are especially relevant to cyclical fluctuations in securities markets.

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 22 countries.

We began developing international indicators in the early 1970s.

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 22 other countries.

  • Growth Rate Cycle Chronologies

    Growth Rate Cycle Peak and Trough Dates, 22 Countries, 1949-2019. Based on a methodology analogous to that used to determine ECRI's international business cycle dates.

  • Business Cycle Chronologies

    Business Cycle Peak and Trough Dates, 22 Countries, 1949-2019. Based on a methodology analogous to that used to determine ECRI's international business cycle dates.

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ECRI is perhaps the only organisation to give advance warning of each of the past three recessions; just as impressive, it has never issued a false alarm. Jan. 2005
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Over the last 15 years, [ECRI] has gotten all of its recession calls right, while issuing no false alarms. Oct. 2011
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