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The National Bureau of Economic Research dates recessions on a monthly basis back to 1854; according to their chronology, from 1854 to 1919, there were 16 cycles. The average recession lasted 22 months, and the average expansion 27. From 1919 to 1945, there were six cycles; recessions lasted an average 18 months and expansions for 35.
Following a mild recession in the early 1990s, the U.S. entered the second-longest period of economic expansion in its history. [1] Job growth remained weak at first, hampered by mass layoffs in defense-related industries following the end of the Cold War . [ 6 ]
A recession is a period of two quarters of negative GDP growth. The countries listed are those that officially announced that they were in recession. It is worth noting that some developed countries such as South Korea and Australia did not enter recession (indeed Australia contracted for the last quarter of 2008 only to grow 1% for the first half of 2009).
Recession Period. Start. End. Total Time Elapsed. The Great Depression–Late ’20s and Early ’30s. August 1929. March 1933. 3 years, 7 months. The Great Recession–aka The 2008 Financial Crisis
Source: National Bureau of Economic Research. From 1860 to 1900, the economy was in recession 48% of the time. From 1900 to 1940, it was in recession 43% of the time.
The recession of 2020, was the shortest and steepest in U.S. history and marked the end of 128 months of expansion. Key Predictors, Indicators and Warning Signs of a Recession
November 1882 news item from the London Guardian noting the expanding financial crisis in the United States, marked by a continued "railway war.". The Depression of 1882–1885, or Recession of 1882–1885, was an economic contraction in the United States that lasted from March 1882 to May 1885, according to the National Bureau of Economic Research.
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