It takes a while for all of the economic statistical data to reveal precisely when US business cycle expansions and contractions (recessions) start and end. In fact only time (and statistics) will tell if a recession has officially started this year.
The good news is: a recession typically doesn't last long in the US. On average the eight recessions in the last half century lasted about 10 months*. In contrast to the average expansion length of 66 months during the same period, recessions are comparably short.
| Recession | Duration |
| 1957-58 | 8 months |
| 1960-61 | 10 months |
| 1969-70 | 11 months |
| 1973-75 | 16 months |
| 1980 | 6 months |
| 1981-82 | 16 months |
| 1990-91 | 8 months |
| 2001 | 8 months |
* Data from National Bureau of Economic Research, Inc.
