Phases of Business Cycles in Australia

This table outlines the number of months that have passed between different phases of the business cycles1 occurring in Australia.

It covers the period from 1960 to 2015.

PeakTroughExpansionContractionCycle
Trough to Peak
(months)
Peak to Trough
(months)
Trough to Trough
(months)
Peak to Peak
(months)
  May-1961 - - - -
Jun-1964 Feb-1966 37 20 57-
Aug-1969 Nov-1971 42 27 69 62
Aug-1973 Feb-1975 21 18 39 48
Aug-1976 Nov-1977 18 15 33 36
Jan-1980 Nov-1982 26 34 60 41
Jan-1984 Jun-1986 14 29 43 48
May-1988 Apr-1991 23 35 58 52
Oct-1994 Jul-1996 42 21 63 77
Dec-1997 Sep-1998 17 9 26 38
Jun-2000 Nov-2001 21 17 38 30
Nov-2002 Jun-2003 12 7 19 29
May-2007 May-2009 47 24 71 54
Jan-2011 Aug-2012 20 19 39 44
Aug-2013- 12 - - 31
Average durations225214746
Standard deviations21281713

Notes

  1. These phases of business cycles are generated using the BBQ methodology applied to the Westpac–Melbourne Institute Leading Index of Economic Activity.
  2. The average durations and standard deviations are rounded to whole months.