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The average duration of the 11 recessions between 1945 and 2001 is 10 months, compared to 18 months for recessions between 1919 and 1945, and 22 months for recessions from 1854 to 1919. [6] Because of the great changes in the economy over the centuries, it is difficult to compare the severity of modern recessions to early recessions. [ 7 ]
The government projects that the GDP will contract by 5.5% in 2020. The First Metro Investment Corp projects a year-on-year GDP decline of 8–9%. The decline is led by a decrease in household spending which typically accounts for 70% of the country's GDP and hesitancy on spending due to COVID-19 community quarantine measures. [334]
On February 6, 57-year-old Patricia Dowd of San Jose, California became the first COVID-19 death in the United States (discovered by April 2020). She died at home without any known recent foreign travel, after being unusually sick from flu in late January, then recovering, working from home, and suddenly dying on February 6.
The following graph shows two inversions of the yield curve in 2001 and 2007 — both of which preceded recessions. While the COVID-19 crisis of 2020 and the resulting lock-downs that resulted ...
Timeline of the COVID-19 pandemic in the United States (2023) Index of articles associated with the same name This set index article includes a list of related items that share the same name (or similar names).
The term recession is being thrown around a lot. Here are the basics.
Weekly confirmed COVID-19 deaths Map of cumulative COVID-19 death rates by U.S. state [8] On December 31, 2019, China announced the discovery of a cluster of pneumonia cases in Wuhan. The first American case was reported on January 20, [9] and Health and Human Services Secretary Alex Azar declared a public health emergency on January 31. [10]
1 year, 6 months. The Early ’80s Recession. July 1981. November 1982. 1 year, 4 months. The Mid-’70s Recession. November 1973. March 1975. 1 year, 4 months. The Great Depression–Late ’30s ...