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The International Monetary Fund defines a global recession as "a decline in annual per‑capita real World GDP (purchasing power parity weighted), backed up by a decline or worsening for one or more of the seven other global macroeconomic indicators: Industrial production, trade, capital flows, oil consumption, unemployment rate, per‑capita investment, and per‑capita consumption".
South Korea avoided recession with GDP returning positive at a 0.1% expansion in the first quarter of 2009. [142] Of the seven largest economies in the world by GDP, only China avoided a recession in 2008. In the year to the third quarter of 2008 China grew by 9%.
Panic of 1837, a U.S. recession with bank failures, followed by a 5-year depression; Panic of 1847, started as a collapse of British financial markets associated with the end of the 1840s railway industry boom; Panic of 1857, a U.S. recession with bank failures; Indian economic crash of 1865
However, unemployment remained in the double digits until the beginning of World War II. ... “As in 2000-01, the biggest risk is a severe recession in the frothy parts of the stock market.” ...
NEW YORK (AP) — As some of the world’s biggest economies stumble into recession, the United States keeps chugging along. Both Japan and the United Kingdom said Thursday their economies likely ...
This is a list of notable financial institutions worldwide that were severely affected by the Great Recession centered in 2007–2009. The list includes banks (including savings and loan associations, commercial banks and investment banks), building societies and insurance companies that were:
Shanghai Composite dropped to a four-year low, escalating their economic downturn since the 2015 recession. [37] [38] 2020 stock market crash: 24 Feb 2020: The S&P 500 index dropped 34%, 1145 points, at its peak of 3386 on February 19 to 2237 on March 23. This crash was part of a worldwide recession caused by the COVID-19 lockdowns. [39] [40] [41]
World map showing real GDP growth rates for 2009 (countries in brown were in recession) Share in GDP of U.S. financial sector since 1860 [15] The crisis sparked the Great Recession, which, at the time, was the most severe global recession since the Great Depression.