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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
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".
This recession was one of the main causes of the American Civil War, which would begin in 1861 and end in 1865. This is the earliest recession to which the NBER assigns specific months (rather than years) for the peak and trough. [6] [8] [21] 1860–1861 recession October 1860 – June 1861 8 months 1 year 10 months −14.5% —
Recession Period. Start. End. Total Time Elapsed. The Great Depression–Late ’20s and Early ’30s. August 1929. March 1933. 3 years, 7 months. The Great Recession–aka The 2008 Financial Crisis
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 ...
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 19 February to 2237 on 23 March. This crash was part of a worldwide recession caused by the COVID-19 lockdowns. [39] [40] [41]
The US economy lost more than 9 million jobs in 2020, the largest calendar-year decline on record, according to the Bureau of Labor Statistics. The biggest loss came in the leisure and hospitality ...
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%.