Moving in the opposite direction of the overall economic cycle, i.e. rising when the economy is weakening, and falling when the economy is strengthening.
Actions aimed at smoothing out swings in economic activity. Countercyclical actions may take the form of monetary and fiscal policy (such as countercyclical revenue sharing or jobs programs). Automatic (built-in) stabilizers have a countercyclical effect without necessitating changes in governmental policy.
Something that occurs contrary to the normal business cycle. For example, when an economy is depressed the business of bankruptcy lawyers booms. Their business is said to be countercyclical.