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https://fastercapital.com/content/Economic-cycles--Exploring-the-Ups-and-Downs-of-Cyclical-Industries.html
https://fastercapital.com/content/Economic-cycles--Exploring-the-Ups-and-Downs-of-Cyclical-Industries.html
== Business Cycles Duration ==
{| class="wikitable"
!Peak  month  (Peak Quarter)
!Trough month (Trough Quarter)<ref>https://www.nber.org/research/data/us-business-cycle-expansions-and-contractions</ref>
!Contraction
!Expansion
! colspan="2" |Cycle
|-
! colspan="2" |
!Duration, peak to trough
!Duration, trough to peak
!Duration, trough to trough
!Duration, peak to peak
|-
|
|December 1854 (1854Q4)
|
|
|
|
|-
|June 1857 (1857Q2)
|December 1858 (1858Q4)
|18
|30
|48
|
|-
|October 1860 (1860Q3)
|June 1861 (1861Q3)
|8
|22
|30
|40
|-
|April 1865 (1865Q1)
|December 1867 (1868Q1)
|32
|46
|78
|54
|-
|June 1869 (1869Q2)
|December 1870 (1870Q4)
|18
|18
|36
|50
|-
|October 1873 (1873Q3)
|March 1879 (1879Q1)
|65
|34
|99
|52
|-
|March 1882 (1882Q1)
|May 1885 (1885Q2)
|38
|36
|74
|101
|-
|March 1887 (1887Q2)
|April 1888 (1888Q1)
|13
|22
|35
|60
|-
|July 1890 (1890Q3)
|May 1891 (1891Q2)
|10
|27
|37
|40
|-
|January 1893 (1893Q1)
|June 1894 (1894Q2)
|17
|20
|37
|30
|-
|December 1895 (1895Q4)
|June 1897 (1897Q2)
|18
|18
|36
|35
|-
|June 1899 (1899Q3)
|December 1900 (1900Q4)
|18
|24
|42
|42
|-
|September 1902 (1902Q4)
|August 1904 (1904Q3)
|23
|21
|44
|39
|-
|May 1907 (1907Q2)
|June 1908 (1908Q2)
|13
|33
|46
|56
|-
|January 1910 (1910Q1)
|January 1912 (1911Q4)
|24
|19
|43
|32
|-
|January 1913 (1913Q1)
|December 1914 (1914Q4)
|23
|12
|35
|36
|-
|August 1918 (1918Q3)
|March 1919 (1919Q1)
|7
|44
|51
|67
|-
|January 1920 (1920Q1)
|July 1921 (1921Q3)
|18
|10
|28
|17
|-
|May 1923 (1923Q2)
|July 1924 (1924Q3)
|14
|22
|36
|40
|-
|October 1926 (1926Q3)
|November 1927 (1927Q4)
|13
|27
|40
|41
|-
|August 1929 (1929Q3)
|March 1933 (1933Q1)
|43
|21
|64
|34
|-
|May 1937 (1937Q2)
|June 1938 (1938Q2)
|13
|50
|63
|93
|-
|February 1945 (1945Q1)
|October 1945 (1945Q4)
|8
|80
|88
|93
|-
|November 1948 (1948Q4)
|October 1949 (1949Q4)
|11
|37
|48
|45
|-
|July 1953 (1953Q2)
|May 1954 (1954Q2)
|10
|45
|55
|56
|-
|August 1957 (1957Q3)
|April 1958 (1958Q2)
|8
|39
|47
|49
|-
|April 1960 (1960Q2)
|February 1961 (1961Q1)
|10
|24
|34
|32
|-
|December 1969 (1969Q4)
|November 1970 (1970Q4)
|11
|106
|117
|116
|-
|November 1973 (1973Q4)
|March 1975 (1975Q1)
|16
|36
|52
|47
|-
|January 1980 (1980Q1)
|July 1980 (1980Q3)
|6
|58
|64
|74
|-
|July 1981 (1981Q3)
|November 1982 (1982Q4)
|16
|12
|28
|18
|-
|July 1990 (1990Q3)
|March 1991 (1991Q1)
|8
|92
|100
|108
|-
|March 2001 (2001Q1)
|November 2001 (2001Q4)
|8
|120
|128
|128
|-
|December 2007 (2007Q4)
|June 2009 (2009Q2)
|18
|73
|91
|81
|-
|February 2020 (2019Q4)
|April 2020 (2020Q2)
|2
|128
|130
|146
|-
! colspan="6" |Averages
|-
|1854-2020
|
|17.0
|41.4
|58.4
|59.2
|-
|1854-1919
|
|21.6
|26.6
|48.2
|48.9
|-
|1919-1945
|
|18.2
|35.0
|53.2
|53.0
|-
|1945-2020
|
|10.3
|64.2
|74.5
|75.0
|}
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