The Full Wiki

More info on Recession of 1969–70

Recession of 1969–70: Wikis

Advertisements
  

Note: Many of our articles have direct quotes from sources you can cite, within the Wikipedia article! This article doesn't yet, but we're working on it! See more info or our list of citable articles.

Encyclopedia

From Wikipedia, the free encyclopedia

The Recession of 1969–1970 was a relatively mild recession in the United States. According to the National Bureau of Economic Research the recession lasted for 11 months, beginning in December of 1969 and ending in November of 1970.[1] The recession followed the second longest economic expansion in U.S. history which had begun February 1961 (only the 1990s saw a longer period of growth).

At the end of the expansion inflation was rising, possibly a result of increased deficit spending during a period of full employment. This relatively mild recession coincided with an attempt to start closing the budget deficits of the Vietnam War (fiscal tightening) and the Federal Reserve raising interest rates (monetary tightening).[2]

During this relatively mild recession, the Gross Domestic Product of the United States fell 0.6 percent. Though the recession ended in November 1970, the unemployment rate did not peak until the next month. In December of 1970, the rate reached its height for the cycle of 6.1 percent.[3]

References


Advertisements






Got something to say? Make a comment.
Your name
Your email address
Message