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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 declining unemployment rate. The Labor Department estimates that as a result of the recession, the economy shed 1.623 million jobs or 1.3% ...
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Canada's economy is considered to have been in recession for two full years in the early 1990s, specifically from April 1990 to April 1992. [7] [8] [a] Canada's recession began about four months before that of the US, and was deeper, likely because of higher inflationary pressures in Canada, which prompted the Bank of Canada to raise interest rates to levels 5 to 6 percentage points higher ...
When the 1990 oil price shock hit in mid-1990, consumer spending contracted and the economy entered recession. Unlike the early 1980s recession, the recession beginning in 1990 was relatively mild. Some of the hardest hit cities were in California and the Northeast, while much of the South was less affected.
Created Date: 8/30/2012 4:52:52 PM
The easing of credit also coincided with spectacular stock market run-ups from 1999 to 2000. The NASDAQ, at less than 800 points in 1994, surged to over 5,000 in March 2000. The Dow Jones Industrial Index traded at roughly 3,000 points in 1990 and 4,000 in 1995, nearly tripled to over 11,000 by mid-2000. [citation needed]
The 1990 oil price shock occurred in response to the Iraqi invasion of Kuwait on August 2, 1990, [1] Saddam Hussein's second invasion of a fellow OPEC member. Lasting only nine months, the price spike was less extreme and of shorter duration than the previous oil crises of 1973–1974 and 1979–1980, but the spike still contributed to the recession of the early 1990s in the United States. [2]
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