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The National Bureau of Economic Research declared the end of this recession over a year after the end date. [79] The Dow Jones Industrial Average finally reached its lowest point on March 9, 2009. [80] COVID-19 recession: February 2020 – April 2020 [81] [82] [83] 2 months 10 years 8 months 14.7% (April 2020) [84] −19.2% [85]
The recession began in most countries in February 2020. After a year of global economic slowdown that saw stagnation of economic growth and consumer activity, the COVID-19 lockdowns and other precautions taken in early 2020 drove the global economy into crisis. [1][2][3][4] Within seven months, every advanced economy had fallen to recession. [5 ...
The unemployment rate was forecast to average 11.5% in 2020 and 9.3% in 2021. [96] In June 2020, economic analyst Jim Cramer said that the response to the COVID-19 recession has led to the biggest transfer of wealth to the ultra-wealthy in modern history. [97] On 30 July 2020, it was reported that the U.S. 2nd quarter gross domestic product ...
Dot-com bubble (2000–2002) (US) Turkish economic crisis (2001) September 11 attacks (2001) Uruguay banking crisis (2002) Venezuelan general strike of 2002–03. Finance company collapses, 2006–2012 (New Zealand) 2007–2008 financial crisis. Great Recession (worldwide) 2000s energy crisis (2003–2009) oil price bubble.
Despite second-quarter economic growth, nearly 60% of Americans wrongly think the U.S. is currently in a recession, according to a June survey of 2,000 adults from Affirm.
In December 2020, the Groundwork Collaborative think tank said a $3–4.5 trillion stimulus package would be needed to return the economy to pre-pandemic levels. [185] On July 1, 2021, the Congressional Budget Office said the federal deficit would reach $3 trillion for the second year in a row. [186]
CNN reported in October 2020 that 10 of the last 11 recessions started under Republican presidents, and that “Every Republican president since Benjamin Harrison, who served from 1889 to 1893, had a recession start in their first term in office.” [3] NBER reports the start date of recessions; the following list includes the president in ...
This is a list of recessions (and depressions) that have affected the economy of the United Kingdom and its predecessor states. In the United Kingdom a recession is generally defined as two successive quarters of negative economic growth, as measured by the seasonally adjusted quarter-on-quarter figures for real GDP. Name Dates Duration Real GDP reduction Causes Other data Great Slump c. 1430 ...