BUSINESS CYCLE REFERENCE DATES |
DURATION IN MONTHS | ||||
Peak | Trough | Contraction | Expansion | Cycle | |
Quarterly dates are in parentheses |
Peak to Trough |
Previous trough to this peak |
Trough from Previous Trough |
Peak from Previous Peak |
|
June 1857(II) October 1860(III) April 1865(I) June 1869(II) October 1873(III) March 1882(I) June 1899(III) August 1918(III) May 1937(II) April 1960(II) July 1990(III) |
December 1854 (IV) December 1858 (IV) June 1861 (III) December 1867 (I) December 1870 (IV) March 1879 (I) May 1885 (II) December 1900 (IV) March 1919 (I) June 1938 (II) February 1961 (I) March 1991(I) |
— 18 8 32 18 65 38 18 7 13 10 8 |
— 30 22 46 18 34 36 24 44 50 24 92 |
— 48 30 78 36 99 74 42 51 63 34 100 |
— — 40 54 50 52 101 42 67 93 32 108 |
|
|||||
Average, all cycles: 1854-2001 (32 cycles) 1854-1919 (16 cycles) 1919-1945 (6 cycles) 1945-2001 (10 cycles) |
17 22 18 10 |
38 27 35 57 |
55 48 53 67 |
56* 49** 53 67 |
|
* 31 cycles ** 15 cycles |
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