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02 / 2018
Slowdown Expansion Recession Recovery Above trend below trend MoM increase MoM decrease

You can see how the business cycle clock operates starting from the point of period that you choose. (MoM : Month-on-Month)

The business cycle clock visually displays like a clock the location of the main economic indicators through the different phases of a business cycle.
  • slowdown
  • expansion
  • recession
  • recovery
INFO Statistical Table
INFO Statistical Table
INFO Statistical Table
INFO Statistical Table
INFO Statistical Table
INFO Statistical Table
INFO Statistical Table
INFO Statistical Table
INFO Statistical Table
INFO Statistical Table
  • 1990
  • 1995
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See the business cycle clock screen of past periods  business cycle clock screen Open

The graph of the business cycle clock in August

According to the business cycle clock in August,
    retail sales is located in the expansion phase(green quadrant), while imports is located in the recession phase(red quadrant).

In comparison with July's clock, 
    industrial production, services, retail sales, exports,  empolyed persons, business survey index(BSI), consumer expectation index are increased while value of construction completed, imports are decreased.
Each quadrant has the following meaning.

○ Green quadrant : MoM increase of economic indicators(cyclical change components), above trend
○ Orange quadrant : MoM decrease of economic indicators(cyclical change components), above trend
○ Red quadrant : MoM decrease of economic indicators(cyclical change components), below trend
○ Yellow quadrant : MoM increase of economic indicators(cyclical change components), below trend

Note
 
1. Individual indicators of the business cycle clock are made by using a cyclical component where seasonal, irregular and trend factors are removed and cyclical component’s monthly change, so its direction might be different form the original series or the seasonally adjusted series.

2. Each of the individual indicators’ latest location within the 4 quadrants might change as data is renewed every month due to the filtering method of the cyclical component.

3. The business cycle clock is scheduled to be updated near the beginning days of every month.

October 8, 2020 updated