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What does expansion mean in economics?

Expansion is the phase of the business cycle where real gross domestic product (GDP) grows for two or more consecutive quarters, moving from a trough to a peak. Expansion is typically accompanied by a rise in employment, consumer confidence, and equity markets and is also referred to as an economic recovery .

What are the features of economic expansion?

Let us look at the features of the economic expansion include: Increased GDP: Economic expansion is marked by a sustained rise in a nation’s gross domestic product, indicating overall economic growth and increased production of goods and services.

How long does economic expansion last?

Expansions might last anywhere from four to five years on average. Interest rates, business profits, and capital expenditures are a few indicators to consider when determining whether the economy is entering a recession or boom. Economic expansion is a growth phase in the business cycle marked by increased production, employment, and spending.

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