Since the 1850s, no expansion has lasted as long as the one that began in June 2009—currently. In May 2018, the latest extension passed the previous record for length, then in July 2019, it surpassed it. The 2010s is the first calendar decade (the 2010s) without a recession since the present growth lasted through January 2020.

Recessions are comparatively regular and common. Before 1930, there were downturns every ten years, ranging from one to four. After 1930, recessions happen twice each decade and once every ten years, respectively, nearly two-thirds of the time. We should anticipate one to two recessions per decade if history is any indication.

RECESSIONS BY DECADE

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