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WWII U.S. Business
Cycle Expansions
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Significance: The ninth business cycle expansion since the end of World War II "officially" ended in March 2001, according to the Business Cycle Dating Committee of the National Bureau of Economic research. This announcement came on November 26, 2001, some eight months into the tenth recession of the post-war WWII era. As such, the just-ended expansion totaled a robust and record setting 120 months, bettering the previous 106 month record. The 120 month expansion beat all of the other 31 expansions going back to December 1854. The average duration of the last nine recessions was 10.7 months. Unless recovery has already begun, this tenth recession is now in its ninth month.
Previous Charts of the Month
NonFarm Payrolls - Jan. '97 - Aug.'01
Industrial Production Index: Jan 1997 to Present
Federal Funds (target) Rate: 1990 to Present