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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 .
Early 2000s recession. Dot-com bubble (2000–2002) (US) 2001 Turkish economic crisis; September 11 attacks (2001) 2002 Uruguay banking crisis; 2002–2003 Venezuelan general strike; 2006–2012 New Zealand finance company collapses; 2007–2008 financial crisis; Great Recession (worldwide) 2000s energy crisis (2003–2009) oil price bubble
The economic recession went on into the mid-1980s until a set of reforms led to the independence of the Bank of Italy [58] and a big reduction of the indexation of wages [59] that strongly reduced inflation rates, from 20.6% in 1980 to 4.7% in 1987. [60]
Lasting through the 1970s and early-1980s, this was the end of a boom that started in 1969, compounded by the 1970s energy crisis coupled with early 1980s Latin American debt crisis. [7] [8] [9] 1973–1974 stock market crash: Jan 1973 UK: Lasting 23 months, dramatic rise in oil prices, the miners' strike and the downfall of the Heath government.
The 1980s oil glut was a significant surplus of crude oil caused by falling demand following the 1970s energy crisis.The world price of oil had peaked in 1980 at over US$35 per barrel (equivalent to $129 per barrel in 2023 dollars, when adjusted for inflation); it fell in 1986 from $27 to below $10 ($75 to $28 in 2023 dollars).
The housing market is headed back to a 1980s-style recession, Wells Fargo says—and it’s all because of ‘higher for longer’ mortgage rates Alena Botros October 30, 2023 at 11:46 AM
Europe has dropped into recession, or nearly so. Eurostat reported that third-quarter gross domestic product in the euro-area fell 0.1%, compared with the second quarter. Among the EU27, GDP ...
Early 1980s recession; Economic recession in Iran; G. General glut; German economic crisis (2022–present) Global recession; ... Great Recession in Europe; Long ...