| Since the Great Depression, the U.S. economy has fallen into recession 12 times, according to economists at the National Bureau of Economic Research who establish dates for business cycles. |
| After 10 of those recessions ended, the economy continued to grow for at least three years. The periods of growth between recessions are called recoveries. But strictly speaking, economists say a recovery lasts until the economy returns to where it was when the recession started. Once it does, it becomes an "expansion." |
| Here’s a list of postwar recessions and recoveries/expansions: |
| Recessions Recoveries/expansions |
| February 1945 through October 1945 _ eight months October 1945 through November 1948 _ 37 months |
| November 1948 through October 1949 _ 11 months October 1949 through July 1953 _ 45 months |
| July 1953 through May 1954 _ 10 months May 1954 through August 1957 _ 39 months |
| August 1957 through April 1958 _ eight months April 1958 through April 1960 _ 24 months |
| April 1960 through February 1961 _ 10 months February 1961 through December 1969 _ 106 months |
| December 1969 through November 1970 _ 11 months November 1970 through November 1973 _ 36 months |
| November 1973 through March 1975 _ 16 months March 1975 through January 1980 _ 58 months |
| January 1980 through July 1980 _ six months July 1980 through July 1981 _ 12 months |
| July 1981 through November 1982 _ 16 months November 1982 through July 1990 _ 92 months |
| July 1990 through March 1991 _ eight months March 1991 through March 2001 _ 120 months |
| March 2001 through November 2001 _eight months November 2001 through December 2007 _ 73 months |
| December 2007 through June 2009 _ 18 months June 2009 through August 2012 _ 38 months so far |