After not playing baseball for 3 years in college because of having a total hip replacement, and then coming back to play professionally once I graduated, and get the opportunity to play on a team like the @wcthunderbolts we had in 2007 and 2008...it was like a dream come true. This was a night I will never forget.
During this period, the average expansion was approximately 58 months, and the average contraction was approximately 11 months. Expansion is the default mode of the U.S. economy, and the average expansion time period has continued to average longer over time.
Timeline of the Great Recession. A recession is when a country experiences two or more quarters of contraction in their economy. GDP in the United States had averaged around 1% per quarter prior to 2007, but beginning in the fourth quarter, those numbers started to shrink.