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The recession data for the overall G20 zone (representing 85% of all GWP), depict that the Great Recession existed as a global recession throughout Q3 2008 until Q1 2009. Subsequent follow-up recessions in 2010–2013 were confined to Belize, El Salvador, Paraguay, Jamaica, Japan, Taiwan, New Zealand and 24 out of 50 European countries ...
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".
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).
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
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 [9] The crisis sparked the Great Recession , which, at the time, was the most severe global recession since the Great Depression.
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 ...
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 ...
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