Economic Expansion Duration in the United States and Canada: an Overview

In the United States, the actual economic cycle expansion phase equalized, last June, the duration of the longest known expansion, the one that began in April 1991 and ended in March 2001, according to the information available at the National Bureau of Economic Research. The actual expansion that started in July 2009 has already lasted 120 months. July and the coming months will establish a new mark, no recession signal being perceptible when one looks at the trend shown by leading economic indicators for the United States.

In Canada, the actual economic cycle expansion phase started in June 2009. It is so far 121 months old, and it will continue to add months based on forecasts published July 10 by the Bank of Canada. But, it is far from being the longest expansion in the country. The one that went from May 1992 to October 2008 lasted 198 months, and the one from April 1961 to October 1974, 163 months, according to the information available at the C.D.Howe Institute Business Cycle Council.