The recession of 1960–1961 was a recession in the United States. According to the National Bureau of Economic Research, the recession lasted for 10 months, beginning in April 1960 and ending in February 1961. The recession preceded the third-longest economic expansion in U.S. history, from February 1961 until the beginning of the recession of 1969–1970 in December 1968. April 1960 – February 1961 · 10 months Peak unemployment: 7.1% (May 1961) · GDP: −1.6% S&P 500: +14.6% over the recession Another primarily monetary recession occurred after the Federal Reserve began raising interest rates in 1959. The government switched from deficit (or 2.6% in 1959) to surplus (of 0.1% in 1960). When the economy emerged from this short recession, it began the second-longest period of growth in NBER history. Dates: the National Bureau of Economic Research's business cycle chronology. Wiki link Wiki link