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Business Cycle Expansions and Contractions

列印圖示 Share
Cycle
Business Cycle Reference Dates
Duration (Month)
Trough
Peak
Trough
Expansion
Contraction
Total
Trough to
Peak
Peak to
Trough
Trough from
Previous Trough
1st
Nov. 1954
Nov. 1955
Sep. 1956
12
10
22
2nd
Sep. 1956
Sep. 1964
Jan. 1966
96
16
112
3rd
Jan. 1966
Aug. 1968
Oct. 1969
31
14
45
4th
Oct. 1969
Feb. 1974
Feb. 1975
52
12
64
5th
Feb. 1975
Jan. 1980
Feb. 1983
59
37
96
6th
Feb. 1983
May 1984
Aug. 1985
15
15
30
7th
Aug. 1985
May 1989
Aug. 1990
45
15
60
8th
Aug. 1990
Feb. 1995
Mar. 1996
54
13
67
9th
Mar. 1996
Dec. 1997
Dec. 1998
21
12
33
10th
Dec. 1998
Sep. 2000
Sep. 2001
21
12
33
11th
Sep. 2001
Mar. 2004
Feb. 2005
30
11
41
12th
Feb. 2005
Mar. 2008
Feb. 2009
37
11
48
13th
Feb.2009
Feb.2011
Jan.2012
24
11
35
14th Jan.2012 Oct. 2014 Feb.2016 33 16  49

The NDC does not define a recession in terms of two consecutive quarters of decline in real GDP. Rather, a recession is a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, industrial production, employment, manufacturing sales, and sales of wholesale,retail, and food. Prior to 1953, there were no formal announcements of business cycle turning points.

Business Cycle Q&A
 

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