The economy began to recover after bottoming out in March 2009, ending an economic contraction that lasted for about 17 months since November 2007, the Cabinet Office said Monday.
A panel of economists and experts for the Cabinet Office determined that the period of the latest recession is almost an average for the past 13 economic cycles, which comes in at 16 months.
The recession deepened due to a financial crisis stemming from the failure in 2008 of Lehman Brothers Holdings Inc.
The previous recession continued 14 months from December 2000 to January 2002.
The economy then started expanding in February 2002 and hit the peak in October 2007, which means the expansion lasted for the longest 69 months in the postwar period.
http://www.breitbart.com/article.php?id=D9G69A100&show_article=1
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