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The National Bureau of Economic Research dates recessions on a monthly basis back to 1854; according to their chronology, from 1854 to 1919, there were 16 cycles. The average recession lasted 22 months, and the average expansion 27. From 1919 to 1945, there were six cycles; recessions lasted an average 18 months and expansions for 35.
A recession is a period of two quarters of negative GDP growth. The countries listed are those that officially announced that they were in recession. It is worth noting that some developed countries such as South Korea and Australia did not enter recession (indeed Australia contracted for the last quarter of 2008 only to grow 1% for the first half of 2009).
Such synchronized recessions were explained to last longer than typical economic downturns and have slower recoveries. [1] The chief economist of the IMF, Dr. Olivier Blanchard, stated that the percentage of workers laid off for long stints has been rising with each downturn for decades but the figures have surged this time. "Long-term ...
There were great increases in productivity, industrial production and real per capita product throughout the period from 1870 to 1890 that included the Long Depression and two other recessions. [14] [15] There were also significant increases in productivity in the years leading up to the Great Depression. Both the Long and Great Depressions ...
Inflation was under control by the mid-1980s. Influenced by low and stable oil prices in combination with a steep rise in private investment and rising incomes, the economy entered what was at the time the second longest peacetime economic expansion in U.S. history. [4] [5] Mar 1991– Mar 2001 120 +2.0% +3.6%
November 1882 news item from the London Guardian noting the expanding financial crisis in the United States, marked by a continued "railway war.". The Depression of 1882–1885, or Recession of 1882–1885, was an economic contraction in the United States that lasted from March 1882 to May 1885, according to the National Bureau of Economic Research.
Donald Trump's proposed tariffs on Canada could increase U.S. gas prices by up to 70 cents a gallon, energy experts say.
The study also said 28 states were in recession, with 16 at risk. The findings were based on unemployment figures and industrial production data. [28] In March 2008, financier Warren Buffett stated in a CNBC interview that by a "common sense definition", the U.S. economy was already in a recession. Buffett has also stated that the definition of ...