List of recessions in the United States

List of recessions in the United States

This is a list of recessions that have affected the United States. A "recession" is defined as a decline in a country's gross domestic product (GDP), or negative real economic growth, for two or more successive quarters for a year. [cite web|accessdate=2008-02-29|url=|title=The NBER's Recession Dating Procedure |publisher=National Bureau of Economic Research|date=2003-10-21|author=Hall, Robert ] From 1945-2007 NBER has identified 10 recessions, their average duration was 10 months (Peak to Trough).cite web|accessdate=2008-10-01|url= |title=NBER Business Cycle Expansions and Contractions |publisher=NBER ]

Most of the recessions listed here have affected economies on a worldwide scale; some of them are the Great Depression, the late 1980s recession, and the early 2000s recession. Recessions in one country are often grouped together with recessions in other countries that are related, and they commonly share a focal point as the cause of the recession. [cite book|title=Global Recession Risk: Dollar Devaluation and the World Economy|author=Pelaez, Carlos M. |date=2007-07-10|publisher=Palgrave Macmillan|isbn=0230521509 ]

Note that before detailed economic statistics began to be gathered in the nineteenth century, it was difficult to tell when recessions occurred. [cite web|accessdate=2008-02-29|url=|title=Comprehensive Revision of the National Income and Product Accounts 1929 through Second Quarter 2003 |publisher=Bureau of Economic Analysis|date=2003-12-10|author=Brent Moulton ] In spite of this, it is possible to estimate when economic recessions began because they were typically caused by external actions on the economic system such as wars and variations in the weather. [cite book|title=The Columbia Electronic Encyclopedia|date=2007 |publisher=Columbia University Press]


ee also

* Economic crisis of 2008
* List of stock market crashes


Further reading


External links

* [ National Bureau of Economic Research]
* [ Business Cycle Expansions and Contractions (List of NBER Recessions)]

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