Recession becoming more rare
Economic recessions are becoming more rare, according to Ten, a quarterly publication from the Federal Reserve Bank of Kansas City. (Oklahoma City has a branch of the Kansas City Federal Reserve Bank).
- From the end of the Civil War in 1865 until the end of World War I in 1918, the U.S. economy was in recession about half the time.
- From the end of WW I to WW II in 1939, the U.S. economy was in recession about one-third of the time.
- From the end of the Korean War in 1953 until 1984, the economy was in recession about 20 percent of the time.
- Since 1984, the economy has been in recession about 7 percent of the time, with a recession occurring roughly every 12 years.
Recessions also have become shorter on average. Prior to WW II, recessions average about 22 months. Since then, recessions average about 10 months.
However, the current recession is the longest since the Great Depression.
Don Mecoy
Business News
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