The arrival of March this week means that the current economic expansion has now entered its 93rd month. According to the official national figures, the recession ended and the recovery started in June 2009.
The current expansion is the third-longest in U.S. history, since we've now surpassed the 92-month expansion of the 1980s. In records dating back to before the Civil War, the U.S. has only twice had longer spells of growth: the 1960s and 1990s.
Throughout U.S. history, the gap between one recession’s end and the next one’s beginning has averaged just under five years. If this economy makes it to next summer, it will be the second-longest in U.S. history. It will have to last until mid-2019 to become the longest on record.
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