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In the parlance of recession shapes, the Recession of 1973–75 in the United States could be considered a U-shaped recession, because of its prolonged
In the parlance of recession shapes, the Recession of 1973–75 in the United States could be considered a U-shaped recession, because of its prolonged period of weak growth and contraction. The percent change from preceding period in real gross domestic product, annualized and seasonally adjusted Average GDP growth 1947–2009Source: Bureau of Economic Analysis
Harold Wilson
Harold Wilson
Margaret Thatcher
Margaret Thatcher
US GDP growth in the early 1980s. The short recession at the start of the decade and the following brief period of growth, as well as the deeper reces
US GDP growth in the early 1980s. The short recession at the start of the decade and the following brief period of growth, as well as the deeper recession in 1981 and 1982, have led to the period being characterized as a W-shaped recession. Percent change from preceding period in real GDP (annualized; seasonally adjusted) Average GDP growth 1947–2009 Source: Bureau of Economic Analysis
President Reagan signing the Economic Recovery Tax Act of 1981 (ERTA) bill at Rancho del Cielo in 1981
President Reagan signing the Economic Recovery Tax Act of 1981 (ERTA) bill at Rancho del Cielo in 1981
Ronald Reagan
Ronald Reagan