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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.
The recession of 1937–1938, which slowed down economic recovery from the Great Depression, is explained by fears of the population that the moderate tightening of the monetary and fiscal policy in 1937 were first steps to a restoration of the pre-1933 policy regime.
The recession of 1937–38, which slowed down economic recovery from the Great Depression, is explained by fears of the population that the moderate tightening of the monetary and fiscal policy in 1937 would be first steps to a restoration of the pre March 1933 policy regime.
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% —
A country's balance of payments consists of two accounts: the current account and the capital account. The current account is the difference between a country's imports and exports.
By 1939, the effects of the 1937 recession had disappeared. Employment in the private sector recovered to the level of the 1936 and continued to increase until the war came and manufacturing employment leaped from 11 million in 1940 to 18 million in 1943. [73] Another response to the 1937 deepening of the Great Depression had more tangible results.
Going back to 1937 — the Great Depression period for the U.S. economy — the S&P 500 has sold off in a range of 14% to 57% peak-to-trough during periods of recession, per new data crunched by ...
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.