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Peak
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The highest point of a business cycle. A peak represents the end of the expansionary phase of the business cycle and the start of the contraction. For an economic variable with a trend, there is a distinction between a peak in the sense of an absolute local maximum and a peak in the sense of a maximum relative to trend, i.e. a peak in the detrended data.
Reference: Oxford Press Dictonary of Economics, 5th edt.
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