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The upheaval associated with the transition from a wartime to peacetime economy contributed to a depression in 1920 and 1921. The Depression of 1920–1921 was a sharp deflationary recession in the United States, United Kingdom and other countries, beginning 14 months after the end of World War I. It lasted from January 1920 to July 1921. [1]
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% —
Total employment numbers in the United States from 1920 to 1940, excluding farms and WPA. Business-oriented observers explained the recession and recovery in very different terms from the Keynesian economists. They argued the New Deal had been very hostile to business expansion in 1935–37.
In North America, the recession immediately following World War I was extremely brief, lasting for only seven months from August 1918 (even before the war had actually ended) to March 1919. [1] A second, much more severe recession, sometimes labeled a depression, began in January 1920. Several indices of economic activity suggest the recession ...
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The American economy has always been cyclical, going from boom to bust and back again. However, 2020 saw an entire economic cycle in a matter of months. The economy was in a solid expansion at the...
At first, the end of wartime production caused a brief but deep recession, the post–World War I recession of 1919–1920 and a sharp deflationary recession or depression in 1920–1921. Quickly, however, the economies of the U.S. and Canada rebounded as returning soldiers re-entered the labor force and munitions factories were retooled to ...
The Bank of England has said the UK could already be at the beginning of the longest recession since the 1920s.