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The Eurozone recession has been dated from the first quarter of 2008 to the second quarter of 2009. [2] In the eurozone as a whole, industrial production fell 1.9% in May 2008, the sharpest one-month decline for the region since the Black Wednesday exchange rate crisis in 1992.
February 22, 2010: Taiwan. Taiwan's economy exits from the recession with 9.22% growth in the last quarter of 2009 after increased demand from China and other key markets in the region. [113] February 24, 2010: Eurozone. Europe risks a double-dip recession after bad results emerged from France, Germany and Italy.
The Great Recession was a period of market decline in economies around the world that occurred from late 2007 to mid-2009. [1] The scale and timing of the recession varied from country to country (see map). [2][3] At the time, the International Monetary Fund (IMF) concluded that it was the most severe economic and financial meltdown since the ...
The post-2008 Irish economic downturn in the Republic of Ireland, [2][3][4][5][6] coincided with a series of banking scandals, followed the 1990s and 2000s Celtic Tiger period of rapid real economic growth fuelled by foreign direct investment, a subsequent property bubble which rendered the real economy uncompetitive, and an expansion in bank ...
Recessions. Many factors directly and indirectly serve as the causes of the Great Recession that started in 2008 with the US subprime mortgage crisis.The major causes of the initial subprime mortgage crisis and the following recession include lax lending standards contributing to the real-estate bubbles that have since burst; U.S. government housing policies; and limited regulation of non ...
During testimony before the US Committee of Government Oversight and Reform, Alan Greenspan remarked that the crisis is "a once-in-a-century credit tsunami". Following a conference at Camp David over the weekend of October 18 and 19th attended by President Nicolas Sarkozy of France and José Manuel Barroso, President of the European Commission, President George W. Bush announced on Wednesday ...
This recession was one of the main causes of the American Civil War, which would begin in 1861 and end in 1865. This is the earliest recession to which the NBER assigns specific months (rather than years) for the peak and trough. [6] [8] [21] 1860–1861 recession October 1860 – June 1861 8 months 1 year 10 months −14.5% —
Similar reports of recession level economic activity had been released previously by Hong Kong, Germany and the European Union. [23] It was widely anticipated that economic activity in the United States would be found to be at recession levels when statistics were released. [24]