Business cycles have 4 phases
1. Expansion-this is the period when business starts to expand
2. Peak- this is the highest spot between the end of expansion and start of next stage contraction
3. Contraction-in this period business struggles with its economy
4. Trough- this is the lowest point in business cycle but it’s still possible to turn around from this point.
so answer to your question is contraction is the stage that immediately follows a peak