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In general, the business cycle is said to go through expansion, then the peak, followed by contraction, and then it finally bottoms out with the trough.
DEFINITION of 'Business Day'. A measurement of time that typically refers to any day in which normal business is conducted. This is generally considered to be Monday through Friday from 9am to 5pm local time, and excludes weekends and public holidays. Within the securities industry, any day the financial markets are open for trading is considered to be a business day.