The Strength of Economic Recovery I would like to start by examining the strength of the self-sustained economic recovery over the past several years. According to the Economic Planning Agency, the current economic recovery began in October 1993, and has continued for about three and a half years.
The recovery, however, has not been constant, and therefore, many people may not have been able to appreciate the true strength of the recovery. In fact, the growth rate of the economy remained low at around 1 percent even after 1993, and there were concerns about the occurrence of a deflationary spiral at one time in 1995.