In Spanish "coyuntura" can mean, in the same literal sense as its Latin 
origin "iunctura", union, and it is used specifically in medicine to 
indicate the articulation of bones.  
 
It can also mean occasion, circumstance or coincidence suitable for 
something. 
In economics we use it -- unsurprisingly, like in Italian -- to mean a 
particular moment, the state of the economic cycle at a specific point. 
 
Carlos Rodriguez Braun