About this Map

Moody's Analytics closely tracks economic conditions in the major economies of the world and summarizes the results on this interactive map. Analysts follow a wide range of indicators to ascertain a country's position in the business cycle. Specifically, we focus on gauges of employment, industrial production and retail sales--high-frequency indicators that capture the breadth of economic activity. Countries where the indicators are dropping are labeled In Recession. Those where declines have slowed are said to be Moderating. Countries where the indicators have begun rising again are Recovering. Economies that have advanced past their previous growth peaks are labeled Expanding.

Global Business Cycle Status