International Business Cycle Dates
International Business & Growth Rate Cycle Dates
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.
We have been studying international economic cycles since the early 1970s.
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.
Growth Rate Cycle Peak and Trough Dates, 21 Countries, 1949-2011. Based on a methodology analogous to that used to determine ECRI's international business cycle dates.
Business Cycle Peak and Trough Dates, 22 Countries, 1948-2011. Applying the same methodology used to determine the official U.S. business cycle dates.
Our Track Record
Highlights of ECRI's calls.
I have to pay attention to those people and indicators that have pointed in the right direction – even when they've gone against the crowd (and my opinion at the time). One such outfit is the Economic Cycle Research Institute, whose various leading indicators actually have done just that – lead where things were headed.
Inflation Ahoy! We're indebted to the ECRI, that unnapping watchdog of inflation, for the FIG data.
In March , the month the market scraped bottom, ECRI went forth with [a] tablepounding historical observation… The implication could not have been clearer that a market rally, when it started, would be no sucker's affair but the real McCoy.
No one speaks with more authority about the economy's turning points.
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.
ECRI [is] the most accurate forecasting institution in the world.
The clarity and conviction to break from the crowd at the right time.