recession

(noun)

A period of reduced economic activity.

Related Terms

  • Scientific Management
  • Gilded Age

Examples of recession in the following topics:

  • The Recession

    • Bush's administration in the early 1990s, the United States entered into a mild recession that lasted for six months.
    • Coming at around the same time as President Bush's budget deal with Congress, the United States entered into a mild recession that lasted for six months.
    • The first burst of the recession was short-lived, as fervent pre-election activity by the governments of the United States and Canada created what many economists at the time saw as an economic miracle: a growing consumer confidence and increased consumer spending almost single-handedly lifted the North American economy out of recession.
    • Bush in the United States may have been aided by the brief recovery of 1988, he could not hold on to power through the last part of the recession.
    • This graph illustrates the GDP growth (at annualized rates) in the United States between 1989 and 1992, showing the 1990-91 recession.
  • Peacetime Economy

    • The postwar transition to a peacetime economy saw strikes and a recession, but the economy fared much better than expected.
    • The decline in government spending, at the end of World War II in 1945, led to an enormous drop in gross domestic product, making this technically a recession.
    • The post-war years were unusual in a number of ways, unemployment was never high, and this era may be considered a "sui generis end-of-the-war recession," or a very unique type of recession.
    • Three years later, the 1948 recession became a brief economic downturn.
    • Although no recession of the post-World War II era has come anywhere near the depth of the Great Depression, this graph shows that the recession during the transition to a peacetime economy during the Truman administration was significant.
  • Reaction and Recession

    • The Recession of 1937–1938 was an economic downturn that occurred during the Great Depression.
    • In the months of the 1937-38 recession, the trends reserved rapidly.
    • As the causes of the recession were hotly debated, so were the government's response to the economic downturn.
    • Furthermore, some earlier efforts of the Roosevelt administration coincided with the 1937-38 recession.
    • Manufacturing employment in the United States from 1920 to 1940, with a drop between 1937 and 1938 during the Recession of 1937-38.
  • Continuing Hardships

    • In 1937 the economy went into a recession, causing unemployment to grow and productivity to drop again.
    • However, in 1937, the economy went into a recession, causing unemployment to grow and productivity to drop again.
    • The Recession of 1937–1938 saw a reversal of some of the progress that had been made and the persistence of economic hardship for many.
    • Business interests countered that the New Deal policies had caused the recession by harming the ability of businesses to operate.
    • Identify the New Deal policies enacted to combat the recession of 1937
  • Economic Hardship and Labor Upheaval During the Transition to Peace

    • Combined with a major recession, labor strikes and social upheaval including race riots, this became a difficult time for the nation.
    • An economic recession hit much of the world in the aftermath of World War I.
    • Yet a more severe recession hit the United States in 1920 and 1921 when the global economy as a whole fell sharply.
    • Discuss the causes of the post-war economic recession, and its effects on race relations and organized labor.
  • Economic Stagnation

    • Inflation did not return to low single-digit levels until 1982, during a second, more severe recession.
    • The policy, along with record interest rates, would lead to a sharp recession in the spring of 1980.
    • The sudden fall in gross domestic product (GDP) during the second quarter caused unemployment to jump from 6% to 7.5% by May, with output in the auto and housing sectors falling by over 20% to their weakest level since the 1975 recession.
    • Although the hard-hit auto and housing sectors would not recover substantially, GDP and employment totals regained pre-recession levels by the first quarter of 1981.
    • The V-shaped recession coincided with Carter's reelection campaign in 1980, however, and contributed to his unexpectedly severe loss.
  • The Financial Crisis

    • The 2008 global financial crisis was caused by widespread corporate fraud and risky loans and resulted in foreclosures, bank bailouts, and a global recession.
    • The crisis played a significant role in the failure of key businesses, with declines in consumer wealth estimated in trillions of US dollars, and a downturn in economic activity leading to the 2008–2012 global recession and contributing to the European sovereign-debt crisis.
    • In the E.U., the United Kingdom responded with austerity measures of spending cuts and tax increases without export growth, and it has since slid into a double-dip recession.
    • However, the bailouts could not prevent a severe recession in the U.S. and world economy.
    • As the Great Recession of 2008 deepened, the situation of ordinary citizens became worse.
  • Republican Turmoil & Democratic Resurgence

    • But an economic recession, and doubts of whether Bush ended the Gulf War properly, reduced his popularity.
    • The ailing economy, which arose from recession may have been the main factor in Bush's loss, as 7 in 10 voters said on election day that the economy was either "not so good" or "poor".
  • The John F. Kennedy Administration

    • It ambitiously promised federal funding for education, medical care for the elderly, economic aid to rural regions, and government intervention to halt the economic recession of the time.
    • The economy, which had been through two recessions in three years and was currently in a recession when Kennedy took office, turned around and prospered.
  • The George W. Bush Administration

    • Bush's second term was highlighted by several free trade agreements, the Energy Policy Act of 2005 alongside a strong push for offshore and domestic drilling, the nominations of Supreme Court Justices John Roberts and Samuel Alito, a push for Social Security and immigration reform, a surge of troops in Iraq, and several different economic initiatives aimed at preventing a banking system collapse, stopping foreclosures, and stimulating the economy during the recession.
    • Largely as a result of a deregulated bond market and dubious innovations in home mortgages, the nation reached the pinnacle of a real estate boom in 2007, followed almost immediately by the Great Recession of 2008.
    • Many resented this bailout of the rich, as ordinary citizens lost jobs and homes in the Great Recession.
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