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Long Term Economic Growth – 1860–1965: A Statistical Compendium. Business Booms and Depressions since 1775, a chart of the past trend of price inflation, federal debt, business, national income, stocks and bond yields for the United States from 1775 to 1943. Budget of the United States Government.
This recession was one of the main causes of the American Civil War, which would begin in 1861 and end in 1865. This is the earliest recession to which the NBER assigns specific months (rather than years) for the peak and trough. [ 6][ 8][ 21] 1860–1861 recession. October 1860 – June 1861. 8 months.
Oct 1945–. Nov 1948. 37. +5.2%. +1.5%. As the United States demobilized from World War II, the decline in government spending caused a brief recession in 1945 and suppressed GDP growth for several years thereafter. However, private economic activity expanded at a brisk pace throughout this period.
The U.S. had the highest GDP (PPP) figures for more than a century prior to that milestone; China has more than tripled the U.S. growth rate for each of the past 40 years. As of 2017, the European Union as an aggregate had a GDP roughly 5% larger than the U.S., although the former is a political union not a country.
In 1980, the American standard of living was the highest among the industrial countries, according to the OECD. Out of the 85 million households in the United States, 64% owned their own living quarters, 55% had at least two TV sets, and 51% had more than one vehicle. In terms of possession of telephones, TV sets, school enrollments, animal ...
The United States is the world's second-largest manufacturer after the People's Republic of China with a record high real output in 2021 of $2.5 trillion. [ 2] As of December 2016, the U.S. manufacturing industry employed 12.35 million people. A year later, in December 2017, U.S. manufacturing employment grew by 207,000, or 1.7%, employees. [ 3]
The Bureau of Economic Analysis's advance estimate of second quarter US gross domestic product (GDP) showed the economy grew at an annualized pace of 2.8% during the period, well above the 2% ...
China. China represented 1.61% of the world's economy in 1987 (lowest point), rising to 18.4% (nominal) and 19% (PPP) in 2022. It accounted for 25.4% of global GDP in 1 CE, 29% of world global output in 1600 CE, 17.3% of the world's economy in 1870, and 33% in 1820 (its highest point). China's share of global GDP varied from a quarter to a ...