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The Great Recession was a period of market decline in economies around the world that occurred in 2007 to 2009. The scale and timing of the recession varied from country to country (see map). [ 1 ][ 2 ] At the time, the International Monetary Fund (IMF) concluded that it was the most severe economic and financial meltdown since the Great ...
e. In the United States, the Great Recession was a severe financial crisis combined with a deep recession. While the recession officially lasted from December 2007 to June 2009, it took many years for the economy to recover to pre-crisis levels of employment and output. This slow recovery was due in part to households and financial institutions ...
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. Subsequent follow-up recessions in 2010–2013 were confined to Belize, El Salvador, Paraguay, Jamaica, Japan, Taiwan, New Zealand and 24 out of 50 European countries ...
From 1879 to 1882, there had been a boom in railroad construction which came to an end, resulting in a decline in both railroad construction and in related industries, particularly iron and steel. [ 25 ] A major economic event during the recession was the Panic of 1884. 1887–1888 recession. March 1887 – April 1888.
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 ...
July 1990 marked the end of what was at the time the longest peacetime economic expansion in U.S. history. [2] [5] Prior to the onset of the early 1990s recession, the nation enjoyed robust job growth and a rising unemployment rate. The Labor Department estimates that as a result of the recession, the economy shed 1.623 million jobs or 1.3% of ...
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 2007–2008 financial crisis, or the global financial crisis (GFC), was the most severe worldwide economic crisis since the Great Depression. Predatory lending in the form of subprime mortgages targeting low-income homebuyers, [ 1 ] excessive risk-taking by global financial institutions, [ 2 ] a continuous buildup of toxic assets within ...