Measuring the economic environment and its position in the economic business cycle is not an exact science. ... To judge the position of the economy on the economic business cycle we need to consider the trend or pattern of these indicators. ... Therefore it can be said that on a global scale the world economy can be placed on the business cycle as a trough. ... Such stability can be found at the height of a peak in the business cycle or at the base of a trough or downturn. ... From this it can be said the UK economy is at the bottom of a trough in the business cycle. ...

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