Table of Contents
What year was the first recession?
Great Depression onward
| Name | Period Range | Duration (months) |
|---|---|---|
| Great Depression | Aug 1929–Mar 1933 | 3 years 7 months |
| Recession of 1937–1938 | May 1937–June 1938 | 1 year 1 month |
| Recession of 1945 | Feb 1945–Oct 1945 | 8 months |
| Recession of 1949 | Nov 1948–Oct 1949 | 11 months |
What started the 2008 recession?
The Great Recession, one of the worst economic declines in US history, officially lasted from December 2007 to June 2009. The collapse of the housing market — fueled by low interest rates, easy credit, insufficient regulation, and toxic subprime mortgages — led to the economic crisis.
When did the 2008 financial crisis start?
2007
Financial crisis of 2007–2008/Start dates
Where did the 2008 and 2009 global recession originate?
The Global Financial Crisis of 2008-2009 is widely referred to as “The Great Recession.” It began with the housing market bubble, created by an overwhelming load of mortgage-backed securities that bundled high-risk loans.
How long did the 2008 recession last?
18
Great Recession/Duration (months)
According to the U.S. National Bureau of Economic Research (the official arbiter of U.S. recessions) the recession began in December 2007 and ended in June 2009, and thus extended over eighteen months.
What caused the 1991 recession?
Pessimistic consumers, the debt accumulations of the 1980s, the jump in oil prices after Iraq invaded Kuwait, a credit crunch induced by overzealous banking regulators, and attempts by the Federal Reserve to lower the rate of inflation all have been cited as causes of the recession.
Was there a recession in 2020?
The COVID-19 recession is a global economic recession caused by the COVID-19 pandemic. The recession began in most countries in February 2020. While the length of the recession varied across countries, it is generally considered the shortest global recession on record.
How bad was the 1990 recession?
The United States entered recession in 1990, which lasted 8 months through March 1991. Although the recession was mild relative to other post-war recessions, it was characterized by a sluggish employment recovery, most commonly referred to as a jobless recovery.