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The early 1980s recession was a severe economic recession that affected much of the world between approximately the start of 1980 and 1982. [ 1 ] [ 2 ] [ 3 ] It is widely considered to have been the most severe recession since World War II until the 2007–2008 financial crisis .
During the 1980s, Chancellor Helmut Kohl tried to reduce that state role, and he succeeded in part, but German unification again compelled the German government to assume a stronger role in the economy. Thus, the contradiction between the terms "social" and "market" has remained an element for debate in Germany.
The National Bureau of Economic Research considers two recessions to have occurred in the early 1980s. [7] The economy fell into recession from January 1980 to July 1980, shrinking at an 8 percent annual rate from April to June 1980. The economy then entered a quick period of growth, and in the first three months of 1981 grew at an 8.4 percent ...
The Great Recession–aka The 2008 Financial Crisis. December 2007. June 2009. 1 year, 6 months. The Early ’80’s Recession. July 1981. November 1982. 1 year, 4 months. The Mid-’70’s ...
The 1980s (pronounced "nineteen-eighties", shortened to "the '80s" or "the Eighties") was the decade that began on 1 January 1980, and ended on 31 December 1989.. The decade saw a dominance of conservatism and free market economics, and a socioeconomic change due to advances in technology and a worldwide move away from planned economies and towards laissez-faire capitalism compared to the 1970s.
The 1980s (pronounced "nineteen-eighties", shortened to "the '80s" or "the Eighties") was the decade that began on 1 January 1980, and ended on 31 December 1989.. The decade saw a dominance of conservatism and free market economics, and a socioeconomic change due to advances in technology and a worldwide move away from planned economies and towards laissez-faire capitalism compared to the 1970s.
The recession in the economy is now also projected to last until 2013, with GDP declining 3% in 2012 and 1% in 2013; followed by a return to positive real growth in 2014. [147] Unemployment rate increased to over 17% by end of 2012 but it has since decreased gradually to 10,5% as of November 2016.
For its part, BofA warned of "turbulence" coming that will resemble the 1980s, marked by high mortgage rates as Paul Volcker's Federal Reserve fought to bring down double-digit inflation.