Market Related Articles » Recessions in US History
This is a list of recessions that have affected the United States over the last 200-plus years. Though economists define a recession as two (or more) quarters of negative GDP growth, the beginning and ending dates of U.S. recessions are officially determined by the National Bureau of Economic Research (NBER). The NBER defines a recession as, "...a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales."
From 1945 - 2007 the NBER has identified 11 recessions; their average duration was 10 months (peak to trough).
Most of the recessions listed here have affected economies on a worldwide scale; those include the Great Depression, the late 1980s recession, and the early and late 2000's 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.[6]
Note that before detailed economic statistics began to be gathered in the nineteenth century, it was difficult to tell when recessions occurred. 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.
By clicking on one of the dates below a page will open that will provide a briefing on that paticular economic time. Wikipedia.org also offers an excellent overview page. To open this, please < Click Here >