December 7, 2022

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The Covid recession was the shortest on record

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US Business Cycle Dating committee

Under the category of records, the US Business Cycle Dating committee determines that the recession as a result of Covid, ended in April 2020 making it the shortest on record.  

A recession is generally considered as two quarters of negative GDP. The 1Q of 2020 US GDP growth fell -5%, while the second quarter plunged -31.4%.  However, according to the committee the economy started to rebound in May.  If we assume the Covid recession started in February, that would put the recession at about 3 months over 2 separate quarters. 

US Business Cycle Dating committee

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