PrintSlowest Post-War Recovery
The latest GDP number brings us good news and bad news. The Great Recession ended in June 2009 according to the National Bureau of Economic Research. That was the low point of real GDP. Real GDP has grown every quarter in the three years since. That's the good news.
The bad news is that this recovery is the slowest in post-war US history.
We now have three years of recovery, all under President Obama. How does this recovery compare to the other post-war recoveries? See for yourself.
|
Recession |
3 Year Recovery Period |
Real GDP Growth over 3 years |
President(s) during recovery |
|
1948-49 |
4Q49-4Q52 |
25.4% |
Truman |
|
1953-54 |
2Q54-2Q57 |
12.4 |
Ike |
|
1957-58 |
2Q58-2Q61 |
13.2 |
Ike/JFK |
|
1960-61 |
1Q61-1Q64 |
18.4 |
JFK/LBJ |
|
1969-70 |
4Q70-4Q73 |
16.4 |
Nixon |
|
1973-75 |
1Q75-1Q78 |
14.1 |
Ford/Carter |
|
1980 |
3Q80-3Q83 |
7.3 |
Carter/Reagan |
|
1981-82 |
4Q82-4Q85 |
18.5 |
Reagan |
|
1990-91 |
1Q91-1Q94 |
9.8 |
Bush 41/Clinton |
|
2001 |
4Q01-4Q04 |
8.9 |
Bush 43 |
|
2007-09 |
2Q09-2Q12 |
6.7 |
Obama |
Source: St. Louis Fed/FRED, GDPC96 series.
The 3-year recovery under Obama is the worst in post-war history. It is even worse than the three years after Carter's recession, which led to a double-dip recession just one year after it ended. Yes, this recovery is worse than a double-dip recession.
Randall Hoven can be followed on Twitter.
