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The 1990s economic boom in the United States was a major economic expansion that lasted between 1993 and 2001, coinciding with the economic policies of the Clinton administration. It began following the early 1990s recession during the presidency of George H.W. Bush and ended following the infamous dot-com crash in 2000.
The economy returned to 1980s level growth by 1993, fueled by the desktop computer productivity boom, low interest rates, low energy prices, and a resurgent housing market. Strong growth resumed and lasted through the year 2000. Although relatively mild, the early 1990s recession was the only interruption to economic expansion during the 1990s.
A third, less important factor in Canada's recession was the weakness of the US economy at the time, which was calculated to have had the effect of reducing Canada's economic growth by .6, 2.2 and 1.1 percentage points in 1990, 1991 and 1992. [10]
In dollar terms, it grew from $248B in 1993 to $343B in 2000; robust economic growth still enabled the ratio to fall relative to GDP. [1] These surpluses 1998-2001 were attributed to a strong economy generating high tax revenues, tax increases on upper-income taxpayers, spending restraint, and capital gains tax revenue from a stock market boom ...
Economic growth would continue until the Great Recession, marking the longest uninterrupted period of economic growth in history. Some Eastern European economies struggled after the fall of communism, but Poland, Hungary, Czech Republic, Estonia, Latvia and Lithuania saw economic growth in the late 1990s.
GDP growth was 3.3 percent, the highest since the mid-1970s. Inflation was below 5 percent. When the economy recovered, Ronald Reagan declared it was Morning in America. Housing starts boomed, the automobile industry recovered its vitality, and consumer spending achieved new heights. [19]
Trump’s administration has promised to slash mortgage rates and home prices by instituting mass deportations of undocumented immigrants and easing federal regulations around building and land use.
Economic growth is the increase or improvement in the inflation-adjusted economy in a financial year. [2] ... [90] In line with the predictions of the Malthusian ...