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Economic Recovery after the Great Recession

Economic Recovery after the Great Recession The economic recovery that followed the most recent recession has been significantly slower than after every recession since 1950. There were 10 recessions in the United States between 1950 and 2012. The average four-quarter percentage change in real gross domestic product (GDP) during those recessions was 1.7%. The largest single decline in GDP over that period–4.6%–occurred during the 2009 recession. Percentage change from same quarter of previous year. Shaded bars indicate recessions as determiend by the National Bureau of Economic Research. 12 Average Positive Growth: 3.9% Average Negative Growth: 1.7% -3 9- 1954 1958 1961 1970 1975 1980 1982 1991 2001 2009 On average, the recovery in real GDP following the previous 9 recessions was significantly faster than after the 2009 recession. The difference in real GDP 12 quarters before and 12 quarters after each recession is lowest for the 2009 recession. Percentage point difference in growth rates between 12 quarters after and 12 quarters before end of the recession Percentage difference from last quarter of recession 15 +13% Average of all other 12 29.0 recessions 22.8 19.7 18.2 +7% 16.6 15.5 15.2 2009 12.9 recession 3 +2% 4.9 4.7 1961 1970 1975 1982 2001 1991 1958 1980 1954 2009 Notes: Real GDP is the market value of all goods and services produced within the United States. It is measured in billions of chained 2005 dollars. The end of a recession is defined as the final quarter in each recession as determined by the National Bureau of Economic Research. Recessions in 1958, 1970, and 1980 were all followed by another official recession within 12 months following the end of those recessions and therefore may not be strictly comparable to other downturns. Source: Bureau of Economic Analysis, National Bureau of Economic Research Publication Date: December 2012 -3 -4% -6 L - 12 -11 -10 -9 -8 -7 -6 -5 -4 -3 -2 -1 0 1 2 3 4 5 6 1 8 9 10 11 12 Quarters before End of Recession Quarters after End of Recession Author: Jonathan Schwabish (jschwabi@yahoo.com; @jschwabish)

Economic Recovery after the Great Recession

shared by JonathanSchwabish on Dec 26
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The economic recovery that followed the most recent recession has been significantly slower than after every recession since 1950.

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Jonathan Schwabish

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Economy
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