Business cycle framework

The diagram above is a hypothetical illustration of the business cycle, the pattern of cyclical fluctuations in an economy over a few years that can influence asset returns over an intermediate-term horizon. There is not always a chronological, linear progression among the phases of the business cycle, and there have been cycles when the economy has skipped a phase or retraced an earlier one. A growth recession is a significant decline in activity relative to a country’s long-term economic potential. Source: Fidelity Investments (AART), as of 05/05/2023.

[Business cycle update | US economy | Fidelity](Business cycle update | US economy | Fidelity?