Wikinvest Wire

Real GDP since 1930

Tuesday, February 03, 2009

Curious to see what annual GDP growth since the Great Depression might look like, a chart was promptly whipped up. It's a bit surprising, particularly the World War II era.
IMAGE So much attention is paid to the annualized quarterly economic growth rates that you forget what things look like from year-to-year. The last recession in 2001 did not produce a contraction when measured over a calendar year, however, the three prior ones did in 1991, 1982, and 1980 with declines of 0.2 percent, 1.9 percent, and 0.2 percent, respectively.

Unless a second half rebound materializes, that 1982 mark will be tested (if not shattered).

The World War II period is pretty fascinating - who says war isn't good for the economy?

3 comments:

Anonymous said...

Read Higgs.
http://www.independent.org/publications/article.asp?id=138

“War prosperity is like the prosperity that an earthquake or a plague brings.”
—Ludwig von Mises1

Sackerson said...

I think we Brits paid for much of that prosperity!

Anonymous said...

Re: ww2

Economically, production here but far greater destruction of capital everywhere else.

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