<Table> <Tr> <Th> Name </Th> <Th> Dates </Th> <Th> Duration </Th> <Th> Time since previous recession </Th> <Th> Characteristics </Th> </Tr> <Tr> <Td> Panic of 1785 </Td> <Td> 1785 1785--1788 </Td> <Td> 36 ~ 7000400000000000000 ♠ 4 years </Td> <Td> 72 </Td> <Td> The panic of 1785, which lasted until 1788, ended the business boom that followed the American Revolution . The causes of the crisis lay in the overexpansion and debts incurred after the victory at Yorktown, a postwar deflation, competition in the manufacturing sector from Britain, and lack of adequate credit and a sound currency . The downturn was exacerbated by the absence of any significant interstate trade . Other factors were the British refusal to conclude a commercial treaty, and actual and pending defaults among debtor groups . The panic among business and propertied groups led to the demand for a stronger federal government . </Td> </Tr> <Tr> <Td> Copper Panic of 1789 </Td> <Td> 1796 1789--1793 </Td> <Td> 36 ~ 7000400000000000000 ♠ 4 years </Td> <Td> 72 ~ 0 years </Td> <Td> Loss of confidence in copper coins due to debasement and counterfeiting led to commercial freeze up that halted the economy of several northern States and was not alleviated until the introduction of new paper money to restore confidence . During that same time the Panic of 1792 took place . Its causes included the extension of credit and excessive speculation . The panic that was largely solved by providing banks the necessary funds to make open market purchases . </Td> </Tr> <Tr> <Td> Panic of 1796--97 </Td> <Td> 1796 1796--1799 </Td> <Td> 36 ~ 7000300000000000000 ♠ 3 years </Td> <Td> 72 ~ 4 years </Td> <Td> Just as a land speculation bubble was bursting, deflation from the Bank of England (which was facing insolvency because of the cost of Great Britain's involvement in the French Revolutionary Wars) crossed to North America and disrupted commercial and real estate markets in the United States and the Caribbean, and caused a major financial panic . Prosperity continued in the south, but economic activity was stagnant in the north for three years . The young United States engaged in the Quasi-War with France . </Td> </Tr> <Tr> <Td> 1802--1804 recession </Td> <Td> 1802 1802--1804 </Td> <Td> 24 ~ 2 years </Td> <Td> 36 ~ 3 years </Td> <Td> A boom of war - time activity led to a decline after the Peace of Amiens ended the war between the United Kingdom and France . Commodity prices fell dramatically . Trade was disrupted by pirates, leading to the First Barbary War . </Td> </Tr> <Tr> <Td> Depression of 1807 </Td> <Td> 1807 1807--1810 </Td> <Td> 36 ~ 7000300000000000000 ♠ 3 years </Td> <Td> 36 ~ 3 years </Td> <Td> The Embargo Act of 1807 was passed by the United States Congress under President Thomas Jefferson as tensions increased with the United Kingdom . Along with trade restrictions imposed by the British, shipping - related industries were hard hit . The Federalists fought the embargo and allowed smuggling to take place in New England . Trade volumes, commodity prices and securities prices all began to fall . Macon's Bill Number 2 ended the embargoes in May 1810, and a recovery started . </Td> </Tr> <Tr> <Td> 1812 recession </Td> <Td> 1812 1812 </Td> <Td> 06 ~ 6 months </Td> <Td> 18 ~ 18 months </Td> <Td> The United States entered a brief recession at the beginning of 1812 . The decline was brief primarily because the United States soon increased production to fight the War of 1812, which began June 18, 1812 . </Td> </Tr> <Tr> <Td> 1815--21 depression </Td> <Td> 1815 1815--1821 </Td> <Td> 72 ~ 7000600000000000000 ♠ 6 years </Td> <Td> 36 ~ 7000300000000000000 ♠ 3 years </Td> <Td> Shortly after the war ended on March 23, 1815, the United States entered a period of financial panic as bank notes rapidly depreciated because of inflation following the war . The 1815 panic was followed by several years of mild depression, and then a major financial crisis--the Panic of 1819, which featured widespread foreclosures, bank failures, unemployment, a collapse in real estate prices, and a slump in agriculture and manufacturing . </Td> </Tr> <Tr> <Td> 1822--1823 recession </Td> <Td> 1822 1822--1823 </Td> <Td> 12 ~ 1 year </Td> <Td> 12 ~ 1 year </Td> <Td> After only a mild recovery following the lengthy 1815--21 depression, commodity prices hit a peak in March 1822 and began to fall . Many businesses failed, unemployment rose and an increase in imports worsened the trade balance . </Td> </Tr> <Tr> <Td> 1825--1826 recession </Td> <Td> 1825 1825--1826 </Td> <Td> 12 ~ 1 year </Td> <Td> 24 ~ 2 years </Td> <Td> The Panic of 1825, a stock crash following a bubble of speculative investments in Latin America led to a decline in business activity in the United States and England . The recession coincided with a major panic, the date of which may be more easily determined than general cycle changes associated with other recessions . </Td> </Tr> <Tr> <Td> 1828--1829 recession </Td> <Td> 1828 1828--1829 </Td> <Td> 12 ~ 1 year </Td> <Td> 24 ~ 2 years </Td> <Td> In 1826, England forbade the United States to trade with English colonies, and in 1827, the United States adopted a counter-prohibition . Trade declined, just as credit became tight for manufacturers in New England . </Td> </Tr> <Tr> <Td> 1833--34 recession </Td> <Td> 1833 1833--1834 </Td> <Td> 12 ~ 1 year </Td> <Td> 48 ~ 4 years </Td> <Td> The United States' economy declined moderately in 1833--34 . News accounts of the time confirm the slowdown . The subsequent expansion was driven by land speculation . </Td> </Tr> </Table> <Tr> <Th> Name </Th> <Th> Dates </Th> <Th> Duration </Th> <Th> Time since previous recession </Th> <Th> Characteristics </Th> </Tr> <Tr> <Td> Panic of 1785 </Td> <Td> 1785 1785--1788 </Td> <Td> 36 ~ 7000400000000000000 ♠ 4 years </Td> <Td> 72 </Td> <Td> The panic of 1785, which lasted until 1788, ended the business boom that followed the American Revolution . The causes of the crisis lay in the overexpansion and debts incurred after the victory at Yorktown, a postwar deflation, competition in the manufacturing sector from Britain, and lack of adequate credit and a sound currency . The downturn was exacerbated by the absence of any significant interstate trade . Other factors were the British refusal to conclude a commercial treaty, and actual and pending defaults among debtor groups . The panic among business and propertied groups led to the demand for a stronger federal government . </Td> </Tr> <Tr> <Td> Copper Panic of 1789 </Td> <Td> 1796 1789--1793 </Td> <Td> 36 ~ 7000400000000000000 ♠ 4 years </Td> <Td> 72 ~ 0 years </Td> <Td> Loss of confidence in copper coins due to debasement and counterfeiting led to commercial freeze up that halted the economy of several northern States and was not alleviated until the introduction of new paper money to restore confidence . During that same time the Panic of 1792 took place . Its causes included the extension of credit and excessive speculation . The panic that was largely solved by providing banks the necessary funds to make open market purchases . </Td> </Tr>

How often is there a recession in the us