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Politics : Impeach George W. Bush -- Ignore unavailable to you. Want to Upgrade?

To: TigerPaw who wrote (21485)	6/18/2003 6:20:21 PM
From: Lazarus_Long	Read Replies (2) \| Respond to of 93284

economics.about.com A depression is any economic downturn where real GDP declines by more than 10 percent. A recession is an economic downturn that is less severe. By this yardstick, the last depression in the United States was from May 1937 to June 1938, where real GDP declined by 18.2 percent. If we use this method then the Great Depression of the 1930s can be seen as two separate events: an incredibly severe depression lasting from August 1929 to March 1933 where real GDP declined by almost 33 percent, a period of recovery, then another less severe depression of 1937-38. The United States hasn’t had anything even close to a depression in the post-war period.