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The Long Depression was a worldwide price and economic recession, beginning in 1873 and running either through March 1879, or 1899, depending on the metrics used. [1] It was most severe in Europe and the United States, which had been experiencing strong economic growth fueled by the Second Industrial Revolution in the decade following the American Civil War.
This is the longest period of economic contraction recognized by the NBER, though the Long Depression is sometimes held to be the entire period from October 1873 to December 1896. [23] [24] Depression of 1882–1885: March 1882 – May 1885 3 years 2 months 3 years −32.8% −24.6%
The Panic of 1873 was a financial crisis that triggered an economic depression in Europe and North America that lasted from 1873 to 1877 or 1879 in France and in Britain. In Britain, the Panic started two decades of stagnation known as the "Long Depression" that weakened the country's economic leadership. [1]
The Panic of 1893 was an economic depression in the United States. It began in February 1893 and officially ended eight months later, but the effects from it continued to be felt until 1897. [1] It was the most serious economic depression in history until the Great Depression of the 1930s.
The Long Depression, sparked in the United States by the Panic of 1873, had far-reaching implications for US industry, closing more than a hundred railroads in the first year and cutting construction of new rail lines from 7,500 miles (12,100 km) of track in 1872 to 1,600 miles (2,600 km) in 1875. [4]
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 ...
Economic depression, a sustained, long-term downturn in economic activity in one or more economies Great Depression, a severe economic depression during the 1930s, commonly referred to as simply the Depression; Long Depression, an economic depression during 1873–96, known at the time as the Great Depression
The Depression of 1882–1885, or Recession of 1882–1885, was an economic contraction in the United States that lasted from March 1882 to May 1885, according to the National Bureau of Economic Research. Lasting 38 months, it was the third-longest recession in the NBER's chronology of business cycles since 1854.