Many people are wondering where we are in the economic cycle. The Normal CycleEarly in a normal cycle, the economy begins to revive and business sales growth accelerates even as the overall level of activity remains depressed. Improvement in the labor markets rebuilds the public's confidence in the economy, which also helps to sustain economic growth. The public's confidence helps give economic growth a self-sustaining bias. Weak sales growth and intensive pricing competition have also made businesses much more cautious about expanding operations.

Source: Forbes January 12, 2018 19:52 UTC