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Politics : PRESIDENT GEORGE W. BUSH
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To: Peter O'Brien who wrote (434931)7/28/2003 7:38:20 PM
From: Kevin Rose  Read Replies (1) of 769667
 
Well, definition of a 'depression' is somewhat less cut-and-dried than a recession. But, here are the GNP/Unemployment figures for the 30's (sorry for the formatting, tables are hard to read here). Clearly no 'depression' in 37-38, though certainly a recession:

Year GNP Unemployment
1930 -9.4% 8.7%
1931 -8.5% 15.9%
1932 -13.4% 23.6% <--- Horrifying
1933 -2.1% 24.9% <--- Peak
1934 +7.7% 21.7%
1935 +8.1% 20.1%
1936 +14.1% 16.9%
1937 +5.0% 14.3% <-- Recession in summer
1938 -4.5% 19.0%
1939 +7.9% 17.2%
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