The following graph shows the chronology and duration, in months, of the different cycles and their respective phases. It is then that the CFCEM identified 5 complete cycles plus a recession corresponding to ta new cycle. The average duration of the complete cycles was 90 months. The shortest cycle, from 1981 to 1985 lasted 46 months and the longest one, from 2008 to 2019 spanned 131 months. As is often the case when following the classical cycle approach, recessions in general were shorter than the recoveries, with the average duration of recessions being 13.2 months, while that of recoveries was 76.6 months. The shortest recession was the one from 1994 to 1995 which lasted for only 6 months, while the longest was the one from 1981 to 1983 that lasted 19 months. Regarding the recoveries, the shortest was the one from 1983 to 1985 which took 19 months, while the longest one was from 2009 to 2019 which lasted 120 months.