๐จ๐จ A Century of Economic Downturns: A Chronology of Americaโs Recessions and Their Causes ๐จ๐จ
1. The Great Depression (1929-1933): Spanning approximately 43 months, this was the most severe economic downturn in American history, triggered by a stock market collapse and sharp economic contraction.
2. Recession of 1937-1938: Lasting about 13 months, this recession was part of the lingering effects of the Great Depression.
3. Post-World War II Recession (1945): This 8-month recession resulted from the shift from a wartime economy to a civilian economy.
4. Recession of 1949: Lasting 11 months, this was due to a slowdown in government spending after the war.
5. Recession of 1953-1954: Spanning 10 months, it was caused by restrictive monetary policies.
6. Recession of 1957-1958: This 8-month downturn resulted from reduced investment spending.
7. Recession of 1960-1961: Lasting 10 months, it was triggered by tightening monetary policies.
8. Recession of 1969-1970: This 11-month recession was driven by inflation and declining economic confidence.
9. First Oil Crisis Recession (1973-1975): A 16-month recession resulting from the global oil crisis.
10. Recession of 1980: Lasted 6 months, driven by high energy costs and inflation.
11. Recession of 1981-1982: This 16-month downturn was due to tight monetary policies aimed at reducing inflation.
12. Early 1990s Recession (1990-1991): Spanning 8 months, it was linked to weakness in the real estate sector.
13. Dot-Com Bubble Recession (2001): Lasted 8 months, caused by the collapse of the internet bubble.
14. Global Financial Crisis (2007-2009): An 18-month recession triggered by the mortgage market collapse, known as the Great Recession.
15. COVID-19 Recession (2020): Lasting about two months, this was the fastest recession on record, resulting from economic closures to curb the pandemic.
Recession Duration Overview: Most American recessions range from 6 to 18 months, with exceptions in cases of severe economic disruption, such as the Great Depression.
