Define Peak

In economics, a peak is a point where economic growth is at the highest point. In a business cycle, it is the point between economic expansion and the start of a contract. It is often the last month or duration before other macroeconomic indicators start falling, such as employment. Additionally, the term can be used in the business environment to imply seasons when demand is high. For instance, during the festive seasons, some industries such as tourism experience a peak. Similarly, during the rainy seasons, the demand for umbrellas peaks.