1. Stocks or securities of companies whose earnings and stock prices fluctuate with economic cycles, rising during expansions and falling during recessions.
Usage: finance; plural form; often used in investment and economic contexts
2. Products or goods whose demand varies with economic conditions and consumer spending patterns.
Usage: economics; plural form

Examples

• During the economic boom, investors shifted their portfolios toward cyclicals like automotive and retail stocks.
• Cyclicals tend to underperform when recession fears mount and consumers cut back on discretionary spending.
• Airlines and hospitality companies are classic cyclicals that benefit from strong economic growth.
• The fund manager reduced exposure to cyclicals in anticipation of a market downturn.
• Luxury goods and home furnishings are considered cyclicals because their sales depend heavily on consumer confidence.
• When the economy weakens, cyclicals typically decline faster than defensive stocks.