Trough

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Trough

The transition point between economic recession and recovery.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Trough

In a recession, the point of the most negative GDP growth that immediately precedes the beginning of recovery. In other words, it is the lowest point in a business cycle. The term comes from charting, in which the x-axis represents time and the y-axis represents GDP growth. In this situation, the low point of a business cycle looks like a trough or pit. A trough is also called a valley. See also: Peak.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

trough

see BUSINESS CYCLE.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
References in classic literature ?
The captain was convinced, however, that the stream was too insignificant to drain so wide a valley and the adjacent mountains: he encamped, therefore, at an early hour, on its borders, that he might take the whole of the next day to reach the main river; which he presumed to flow between him and the distant range of western hills.
The soil of a great part of this Green River valley is a whitish clay, into which the rain cannot penetrate, but which dries and cracks with the sun.
-- We rode during this day to the last, and therefore most elevated, house in the valley. The number of inhabitants became scanty; but wherever water could be brought on the land, it was very fertile.
In this part of the valley, the mountains on each side were from 3000 to 6000 or 8000 feet high, with rounded outlines and steep bare flanks.
As we stood gazing over the side at the verdant headlands, Ned, pointing with his hand in the direction of the treacherous valley, exclaimed, 'There--there's Typee.
On that occasion I have been told that a considerable detachment of sailors and marines from the frigate Essex, accompanied by at least two thousand warriors of Happar and Nukuheva, landed in boats and canoes at the head of the bay, and after penetrating a little distance into the valley, met with the stoutest resistance from its inmates.
According to the belief of many people, the valley owed much of its fertility to this benign aspect that was continually beaming over it, illuminating the clouds, and infusing its tenderness into the sunshine.
So his mother told him a story that her own mother had told to her, when she herself was younger than little Ernest; a story, not of things that were past, but of what was yet to come; a story, nevertheless, so very old, that even the Indians, who formerly inhabited this valley, had heard it from their forefathers, to whom, as they affirmed, it had been murmured by the mountain streams, and whispered by the wind among the tree-tops.
Those that would stand still of their own will were milked in the middle of the yard, where many of such better behaved ones stood waiting now--all prime milchers, such as were seldom seen out of this valley, and not always within it; nourished by the succulent feed which the water-meads supplied at this prime season of the year.
It was two hours, owing to sundry wrong turnings, ere she found herself on a summit commanding the long-sought-for vale, the Valley of the Great Dairies, the valley in which milk and butter grew to rankness, and were produced more profusely, if less delicately, than at her home--the verdant plain so well watered by the river Var or Froom.
"Oh, one can leave the Valley easily enough," answered the man's voice; "but to do so you must enter a far less pleasant country.
Furthermore, they will have learned for the thousandth time to have confidence in Ward Valley. And with their confidence we can carry through the large developments we have outlined to you."