Definition: First-order auto-correlation
OECD - Business tendency surveys
As used in business cycle analysis, it is a measure of the extent to which the current level of economic activity depends upon the level in the past. The higher the degree of dependence the longer or more persistent the business cycle will be.
Organization for Economic Cooperation and Development (OECD), "Business Tendency Surveys - A Handbook", OECD, Paris, 2003