Friday, July 29, 2011

Great Recession:  Revisions Show Deeper 2007-2009 Recession

The 2007-2009 recession, already in the record books as the worst in the 66 years since the end of World War II, was even worse than previously thought.

From the start of the recession at the end of 2007 to the end in June of 2009, the U.S. economy shrank 5.1%. That is 1 percentage point worse than the previous estimate that the recession reduced total output during that period by 4.1%.

For more, see Revisions Show Deeper 2007-2009 Recession by The Associated Press, July 29, 2011 at NYTimes.com.

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