Friend: It has been a month now.

Me: A: Time has been going fast. B: Time is going fast.

Would the first sentence (A) mean that the time has been fast for 1 month and the other that it was fast before 1 month and is still now (meaning currently) or vice versa?


There is no practical difference here between the PrPf continuous and the Pr continuous. The PrPf version may be employed to imply a little more strongly that the past month has passed faster than you expected, and the Pr version may be employed to imply a little more strongly that you expect the time to continue passing at the current rate for some time to come; but few speakers are concerned about such very subtle points in such a casual conversation as you describe, where the speakers are unlikely to mean anything in particular.

In a different conversation, of course, the distinction might be more strongly marked:

A: It's been a month now.
B: That long? Doesn't seem like it. I guess time's been going fast.
A: Bob?
B: Yeah?
A: It's been a month. That report is due Monday.
B: Hmm ... You're right. Time's going fast. Guess I'd better get some data.
A: Jeez, Bob, you haven't even got the data yet?!
B: Well, not today's data. He-who-shall-not-be-named will want that folded in before I print the report.
A: You mean you've already written it?
B: Al, time's been going fast—but not as fast as me.

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