Trend and Cycle

Whether measured by real Gross Domestic Product (GDP) or employment, the movement of the economy can be broken down into two components. Trend refers to the long-term growth of the economy, which is described graphically by a smooth curved line between two points in time. Cycle refers to the drifting movement of the economy above and below the trend line.

Volume: 23 - Number: 2

Leading Index Title:

Special Topic Title: Regional Economic Structure


  • Dick Conway
  • Doug Pedersen