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The 1948 recession was a brief economic downturn; forecasters of the time expected much worse, perhaps influenced by the poor economy in their recent lifetimes. [62] The recession also followed a period of monetary tightening. [40] Recession of 1953: July 1953 – May 1954 10 months 3 years 9 months 6.1% (September 1954) −2.6%
GDP is a measure of both the economic production and income. The Economist reported in August 2014 that real (inflation-adjusted) GDP growth averaged about 1.8 percentage points faster under Democrats, from Truman through Obama's first term, which ended in January 2013. [2]
The recession lasted from January 1920 to July 1921, or 18 months, according to the National Bureau of Economic Research.This was longer than most post–World War I recessions, but was shorter than recessions of 1910–1912 and 1913–1914 (24 and 23 months respectively).
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 Crisis
The slowdown in economic activity led to the recession of 1953, bringing an end to nearly four years of expansion. May 1954– Aug 1957 39 +2.5% +4.0%: Expansion resumed following a return to growth in May 1954. Employment and GDP growth slowed relative to the previous two expansions. April 1958– April 1960 24 +3.6% +5.6%
Panic of 1819, a U.S. recession with bank failures; culmination of U.S.'s first boom-to-bust economic cycle; Panic of 1825, a pervasive British recession in which many banks failed, nearly including the Bank of England; Panic of 1837, a U.S. recession with bank failures, followed by a 5-year depression
The NBER officially calls U.S. recessions, and data from Bank of America shows why this group won't be in a rush to declare the U.S. economy in recession.
GDP provides a good insight into what has already been taking place in the economy. A contraction in GDP, especially if it occurs for two consecutive quarters, [118] is a strong indicator of a recession as it reflects reduced economic activity, lower consumer demand, and decreased employment. GDP per capita contraction [119]