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Early recessions and crises (1785–1836) Attempts have been made to date recessions in America beginning in 1790. These periods of recession were not identified until the 1920s. To construct the dates, researchers studied business annals during the period and constructed time series of the data.
According to the U.S. National Bureau of Economic Research (the official arbiter of U.S. recessions) the recession began in December 2007 and ended in June 2009, and thus extended over eighteen months.
Courtesy of www.bea.gov. On December 1, 2008, the National Bureau of Economic Research (NBER) declared that the United States entered a recession in December 2007, citing employment and production figures as well as the third quarter decline in GDP.
Recession Period. Start. End. Time Elapsed Total. The Great Depression–Late ’20’s and Early ’30’s. August 1929. March 1933. 3 years, 7 months. The Great Recession–aka The 2008 ...
The recession began in most countries in February 2020. After a year of global economic slowdown that saw stagnation of economic growth and consumer activity, the COVID-19 lockdowns and other precautions taken in early 2020 drove the global economy into crisis.
Recession Period. Start. End. Total Time Elapsed. The Great Depression–Late ’20s and Early ’30s. August 1929. March 1933. 3 years, 7 months. The Great Recession–aka The 2008 Financial ...
The recession in the United States lasted from November 1973 (the Richard Nixon presidency) to March 1975 (the Gerald Ford presidency), and its effects on the US were felt through the Jimmy Carter presidency until the mid-term of Ronald Reagan's first term as president, characterized by low economic growth.
One year after the maximum, in Q1 2010, only seven countries were in recession (Greece, Croatia, Romania, Iceland, Jamaica, Venezuela and Belize). The recession data for the overall G20 zone (representing 85% of all GWP ), depict that the Great Recession existed as a global recession throughout Q3 2008 until Q1 2009.
The United States entered a recession in 1990, which lasted 8 months through March 1991. [1] Although the recession was mild relative to other post-war recessions, [2] it was characterized by a sluggish employment recovery, most commonly referred to as a jobless recovery.
Official economic data shows that a substantial number of nations were in recession as of early 2009. The US entered a recession at the end of 2007, and 2008 saw many other nations follow suit. The US recession of 2007 ended in June 2009 as the nation entered the current economic recovery.