Business cycle indicators (BCI),
Definition of Business cycle indicators (BCI):
Business cycle indicators (BCI) are a composite of leading, lagging, and coincident indexes created by the Conference Board and used to forecast changes in the direction of the overall economy of a country. They are published on a monthly basis and can be used to confirm or predict the peaks and troughs of the business cycle, and are published for the U.S., Mexico, France, the U.K., South Korea, Japan, Germany, Australia and Spain.
Wesley Mitchell and Arthur Burns at the National Bureau of Economic Research (NBER) were responsible for compiling the first set of business cycle indicators and using them to analyze economic boom and bust cycles during the 1930s. The U.S. Department of Commerce began publishing business cycle indicators during the 1960s. The task of compiling and publishing the indicators was privatized in 1995, with the Conference Board being made responsible for the report.
A series of metrics that indicate commercial business activity, and are regarded by some economic analysts as strong indicators of peaks and valleys throughout the business cycle. The series includes leading (forward looking), lagging (backward looking) and coincident (real time) indicators.
How to use Business cycle indicators (BCI) in a sentence?
- Business Cycle Indicators (BCI) are a composite of leading, lagging, and coincident indicators to analyze and predict economic direction.
- Business cycle indicators must be used in conjunction with other statistics of an economy in order to understand the true nature of economic activity.
Meaning of Business cycle indicators (BCI) & Business cycle indicators (BCI) Definition