​​The four stages of the economic cycle in English are *expansion, peak, contraction, and trough​​*. These phases reflect the natural fluctuations in economic activity, driven by factors like credit cycles, policy changes, and market confidence. Understanding these stages helps investors and policymakers navigate growth and downturns effectively.

1. ​​Expansion​​: Characterized by rising GDP, employment, and consumer spending. Businesses thrive, and asset prices (stocks, real estate) typically climb. Central banks may raise interest rates to prevent overheating.
2. ​​Peak​​: The economy hits its maximum output, but signs of strain emerge—high inflation, excessive debt, or asset bubbles. Growth slows, marking the transition to contraction.
3. ​​Contraction​​: Declining economic activity leads to reduced spending, rising unemployment, and falling asset prices. Central banks cut rates to stimulate recovery. Severe contractions are called recessions.
4. ​​Trough​​: The lowest point before recovery begins. Pessimism prevails, but low valuations create opportunities for long-term investments as the cycle resets.

Recognizing these stages enables smarter financial decisions—whether diversifying during peaks or capitalizing on bargains during troughs. Economic cycles are inevitable, but their impact can be managed with informed strategies.