6.3: Tracking Real GDP over Time
- Page ID
- 355
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Trough | Peak | Months of Contraction | Months of Expansion |
---|---|---|---|
December 1900 | September 1902 | 18 | 21 |
August 1904 | May 1907 | 23 | 33 |
June 1908 | January 1910 | 13 | 19 |
January 1912 | January 1913 | 24 | 12 |
December 1914 | August 1918 | 23 | 44 |
March 1919 | January 1920 | 7 | 10 |
July 1921 | May 1923 | 18 | 22 |
July 1924 | October 1926 | 14 | 27 |
November 1927 | August 1929 | 23 | 21 |
March 1933 | May 1937 | 43 | 50 |
June 1938 | February 1945 | 13 | 80 |
October 1945 | November 1948 | 8 | 37 |
October 1949 | July 1953 | 11 | 45 |
May 1954 | August 1957 | 10 | 39 |
April 1958 | April 1960 | 8 | 24 |
February 1961 | December 1969 | 10 | 106 |
November 1970 | November 1973 | 11 | 36 |
March 1975 | January 1980 | 16 | 58 |
July 1980 | July 1981 | 6 | 12 |
November 1982 | July 1990 | 16 | 92 |
March 2001 | November 2001 | 8 | 120 |
December 2007 | June 2009 | 18 | 73 |
Key Concepts and Summary
References
Glossary
- business cycle
- the relatively short-term movement of the economy in and out of recession
- depression
- an especially lengthy and deep decline in output
- peak
- during the business cycle, the highest point of output before a recession begins
- recession
- a significant decline in national output
- trough
- during the business cycle, the lowest point of output in a recession, before a recovery begins