Straight from the Specialists
(The views expressed in this column are the author’s own and do not represent those of Reuters)
Every once in a while, I come across the term — depression. Well, I have heard of recession, contraction, subtraction — so what exactly is “depression”? It is very depressing to say the least. But if you still insist, these are some of the facts.
The Great Depression was an economic state in the U.S. in the 1930s. Some of the stats:
– It started in 1930 and ended after nearly a decade
– It was a period when the economic output (as measured by GDP) was falling year after year