great recession

  • 1900 recession

    This was a mild recession in the period of general growth beginning after 1897
  • 91 recession

    was somewhat more pronounced than the preceding recession. International monetary disturbances are blamed for this recession
  • 1902–04 recession

    Though not severe, this downturn lasted for nearly two years and saw a distinct decline in the national product. Industrial and commercial production both declined, albeit fairly modestly
  • Panic of 1907

    Knickerbocker Trust Company set events in motion that would lead to a severe monetary contraction
  • Panic of 1910–1911

    This was a mild but lengthy recession. The national product grew by less than 1%, and commercial activity and industrial activity declined. The period was also marked by deflation.
  • Recession of 1913–1914

    Productions and real income declined during this period and were not offset until the start of World War I increased demand
  • Depression of 1920–21

    The 1921 recession began a mere 10 months after the post-World War I recession, as the economy continued working through the shift to a peacetime economy. The recession was short, but extremely painful.
  • 1923–24 recession

    From the depression of 1920–21 until the Great Depression, an era dubbed the Roaring Twenties, the economy was generally expanding. Industrial production declined in 1923–24, but on the whole this was a mild recession.
  • 1926–27 recession

    This was an unusual and mild recession, thought to be caused largely because Henry Ford closed production in his factories for six months to switch from production
  • Aug 1929 –Mar 1933

    A banking collapse took place in the United States. Extensive new tariffs and other factors contributed to an extremely deep depression. The United States did remain in a depression until World War II.
  • May 1937 –June 1938

    The Recession of 1937 is only considered minor when compared to the Great Depression, but is otherwise among the worst recessions of the 20th century. Three explanations are offered for the recession: that tight fiscal policy from an attempt to balance the budget after the expansion of the New Deal caused recession, that tight monetary policy from the Federal Reserve caused the recession, or that declining profits for businesses led to a reduction in investment
  • Recession of 1945

    The decline in government spending at the end of World War II led to an enormous drop in gross domestic product, making this technically a recession. This was the result of demobilization and the shift from a wartime to peacetime economy.
  • Recession of 1949

    The 1948 recession was a brief economic downturn; forecasters of the time expected much worse, perhaps influenced by the poor economy in their recent lifetimes.The recession also followed a period of monetary tightening
  • Recession of 1953

    After a post-Korean War inflationary period, more funds were transferred to national security. In 1951, the Federal Reserve reasserted its independence from the U.S. Treasury and in 1952, the Federal Reserve changed monetary policy to be more restrictive because of fears of further inflation or of a bubble forming
  • Recession of 1958

    Monetary policy was tightened during the two years preceding 1957, followed by an easing of policy at the end of 1957
  • Recession of 1960–61

    Another primarily monetary recession occurred after the Federal Reserve began raising interest rates in 1959. The government switched from deficit
  • Recession of 1969–70

    The relatively mild 1969 recession followed a lengthy expansion. At the end of the expansion, inflation was rising, possibly a result of increased deficits. This relatively mild recession coincided with an attempt to start closing the budget deficits of the Vietnam War.
  • 1973–75 recession

    A quadrupling of oil prices by OPEC coupled with high government spending because of the Vietnam War led to stagflation in the United States.
  • 1980 recession

    The NBER considers a short recession to have occurred in 1980, followed by a short period of growth and then a deep recession. Unemployment remained relatively elevated in between recessions.
  • Early 1980s recession

    The Iranian Revolution sharply increased the price of oil around the world in 1979, causing the 1979 energy crisis. This was caused by the new regime in power in Iran, which exported oil at inconsistent intervals and at a lower volume, forcing prices up.
  • Early 1990s recession

    After the lengthy peacetime expansion of the 1980s, inflation began to increase and the Federal Reserve responded by raising interest rates from 1986 to 1989.
  • Early 2000s recession

    The 1990s were the longest period of growth in American history. The collapse of the speculative dot-com bubble, a fall in business outlays and investments, and the September 11th attacks, brought the decade of growth to an end.
  • ressesion 2007

    The National Bureau of Economic Research (NBER) dates the beginning of the recession as December 2007
  • crisis

    The United States entered 2008 during a housing market correction and a subprime mortgage crisis.
  • Great Recession Dec 2007 – June 2009

    The subprime mortgage crisis led to the collapse of the United States housing bubble. Falling housing-related assets contributed to a global financial crisis, even as oil and food prices soared. The crisis led to the failure or collapse of many of the United States' largest financial institutions.
  • great ressesion 2010

    in february 2010 GDP contracted by 5.1%, making the Great Recession the worst since the Great Depression.
  • Unemployment 2013

    Unemployment as of July 2013 was 7.4%, considered high by American standards, with about 6.5 million jobs created since February 2010.