PRODUCTIVITY
UNEMPLOYMENT
DEPRESSION
PROSPERITY
RECESSION
BUSINESS
RECOVERY
ECONOMY
TROUGH
GLOBAL
GROWTH
CYCLE
W
R
V
W
R
E
C
E
S
S
I
O
N
J
U
J
U
X
U
R
M
U
E
V
W
J
J
N
O
U
C
R
E
W
A
O
S
Q
C
Z
Y
T
I
R
E
P
S
O
R
P
M
S
C
S
A
E
W
O
K
D
E
A
B
N
N
E
T
U
T
T
K
Y
V
I
K
I
A
L
C
U
E
O
F
V
W
E
N
R
H
T
T
Y
O
O
A
E
S
D
E
Q
O
V
H
E
T
I
G
I
Q
F
U
B
L
I
B
P
N
I
F
O
M
O
S
I
U
V
I
L
O
U
N
U
O
A
M
I
E
Y
R
V
E
T
O
I
F
L
D
E
I
R
R
V
D
O
O
S
L
N
L
S
R
T
G
V
S
W
E
Q
A
C
E
L
L
I
G
E
W
B
T
C
S
S
C
X
H
Z
J
M
P
D
G
X
C
C
I
W
E
U
O
D
T
T
L
H
H
M
E
L
C
Y
C
O
R
O
V
D
W
D
D
A
G
E
E
E
G
I
B
E
P
N
E
U
O
O
I
A
U
F
D
N
A
X
D
P
E
V
R
O
R
U
I
R
V
J
F
H
U
N
C
S
D
I
Y
O
G
M
A
G
I
P
U
I
C
H
L
U
P
J
L
N
I
U
J
Y
L
I
W
H
F
