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.
What is a 'Contraction'. A contraction is a phase of the business cycle in which the economy as a whole is in decline. More specifically, contraction occurs after the business cycle peaks but before it becomes a trough. According to most economists, a contraction is said to occur when a country's real GDP has declined for two or more consecutive quarters.