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The last US recession was in 2001 and it started in March and ended in November. During that period major market indexes fell and the NASDAQ declined 70 percent during that year. It is believed that even so many years after, the NASDAQ has not managed to recover from that decline.
US Economic Recession History:
- Panic of 1907 begins with a run on Knickerbocker Trust Company stock October 22, 1907 sets events in motion that will lead to a depression in the United States. Duration: 13 months
- Post-WWI recession was marked by severe hyperinflation in Europe over production in North America. Very sharp, but also brief.
- Great Depression causes the stock market crash, banking collapse in the United States sparks a global downturn, including a second but not heavy downturn in the U.S., the Recession of 1937. Durations: 43 and 13 months respectively.
- Recession of 1945 was for 8 months
- Recession of 1948 was for a duration of 11 months
- Post-Korean War Recession -- The Recession of 1953 was a demand-driven recession due to poor government policies and high interest rates. Duration: 10 months
- Recession of 1957 - 1958 was for a duration of 8 months
- Recession of 1960 - 1961 lasted for 10 months
- Recession of 1969 - 1970 was for 11 months
- 1973 oil crisis -- a quadrupling of oil prices by OPEC coupled with high government spending due to the Vietnam War leads to stagflation in the United States. Duration: 16 months
- 1979 energy crisis - 1979 until 1980, the Iranian Revolution sharply increases the price of oil
- The recession of 1981 lasted for 16 months
- Early 1980s recession was caused by tight monetary policy in the U.S. to control inflation and sharp correction to overproduction of the previous decade which had been masked by inflation
- Great Commodities Depression was from 1980 to 2000; general recession in commodity prices
- Early 1990s recession was from 1990 to 1992; collapse of junk bonds and a credit crunch in the United States leads to one quarter of US GDP decline, and therefore, not an official recession.
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