From Longman Dictionary of Contemporary Englishtime lagˈtime lag (also time lapse) noun [countable] PERIOD OF TIMEthe period of time between two connected events There is generally a two-year time lag in the information being made available.
Examples from the Corpus
time lag• That there was a time lag heartened me.• As Chapter 4 noted, the average time lag between daily use and first contact with an agency was 2.6 years.• There is always a long time lag between a proposal and any concrete results.• No time lag should come between demand and supply.• But in a way that time lag, though it could be frustrating, was also a blessing in disguise.• It is difficult to make a case that the time lag in getting innovations to the market-place has decreased in recent years.From Longman Business Dictionarytime lagˈtime lag a delay between an event and another event that is caused by it or connected with itThere is a considerable time lag between orders and shipments. → lag 