Is “Countercyclical” a Scrabble word?

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Yes
COUNTERCYCLICAL
Valid in at least one Scrabble dictionary

Valid in these dictionaries

SOWPODS / CSW
Scrabble UK & International
Valid
TWL / NWL
Scrabble North America
Valid
Large English Dictionary
General English word list
Unavailable

Meaning of Countercyclical

adjective
  1. 1.(public policy) Dampening the cyclical fluctuations due to the business cycle in an economy.

  2. 2.Moving in the direction opposite to that of the overall state of an economy.

    The unemployment rate is countercyclical in the sense that it rises when economic growth is low and vice versa.