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The recession of 1937–1938 was an economic downturn that occurred during the Great Depression in the United States. By the spring of 1937, production, profits, and wages had regained their early 1929 levels. Unemployment remained high, but it was substantially lower than the 25% rate seen in 1933.
Dow Jones Industrial Average figures for percentage lost in 1937–1943 vs 2008–2011 (based on initial 1937 and 2008 DJIA month end amount, respectively). Although some casual comparisons between the Great Recession and the Great Depression have been made, there remain large differences between the two events.
In 1937, the American economy unexpectedly fell, lasting through most of 1938. Production declined sharply, as did profits and employment. Unemployment jumped from 14.3% in 1937 to 19.0% in 1938. [70] A contributing factor to the Recession of 1937 was a tightening of monetary policy by the Federal Reserve.
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. [62] The recession also followed a period of monetary tightening. [40] Recession of 1953: July 1953 – May 1954 10 months 3 years 9 months 6.1% (September 1954) −2.6%
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Dec. 1, 2008: The National Bureau of Economic Research finally confirms that the U.S. has been in a recession for a year. Bernanke and Treasury Secretary Hank Paulson predict further recessionary ...
Recession of 1937–1938 This page was last edited on 4 February 2024, at 16:47 (UTC). Text is available under the Creative Commons ... Statistics; Cookie statement;