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The Great Recession was a period of market decline in economies around the world that occurred from late 2007 to mid-2009. [1] The scale and timing of the recession varied from country to country (see map).
In the United States, the Great Recession was a severe financial crisis combined with a deep recession. While the recession officially lasted from December 2007 to June 2009, it took many years for the economy to recover to pre-crisis levels of employment and output.
The 2008 financial crisis, also known as the global financial crisis, was a major worldwide economic crisis, centered in the United States, which triggered the Great Recession of late 2007 to mid-2009, the most severe downturn since the Wall Street crash of 1929 and Great Depression.
The Great Recession–aka The 2008 Financial Crisis. December 2007. June 2009. 1 year, 6 months. The Early ’80s Recession. ... Recessions Explained: Definition, Warning Signs and What Happens ...
Indeed, it's not an exaggeration to say it represented a tectonic shift in the global economic balance of power and set into motion a series of events which culminated in the Great Recession.
The Great Recession began in December 2007. That's when the official scorekeepers at the National Bureau of Economic Research said it began, anyway. It "officially" ended in June 2009, but ...
Recessions. Many factors directly and indirectly serve as the causes of the Great Recession that started in 2008 with the US subprime mortgage crisis.The major causes of the initial subprime mortgage crisis and the following recession include lax lending standards contributing to the real-estate bubbles that have since burst; U.S. government housing policies; and limited regulation of non ...
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).