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- But with the surrender of both Germany and Japan in 1945, military contracts were slashed and soldiers started coming home, competing with civilians for jobs. As government spending dried up, the economy dipped into a serious recession with GDP contracting by a whopping 11 percent.
www.history.com/news/us-economic-recessions-timelineHow the US Got Out of 13 Economic Recessions Since World War II
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Apr 29, 2020 · World War II was an economic boon for the U.S. economy as the government infused tens of billions of dollars into manufacturing and other industries to meet wartime needs. But with the...
- Dave Roos
May 31, 2024 · Reasons and causes: The 1945 recession reflected massive cuts in U.S. government spending and employment toward the end and immediately after World War II. Federal spending fell 40% in 1946...
The decline in government spending at the end of World War II led to an enormous drop in gross domestic product, making this technically a recession. This was the result of demobilization and the shift from a wartime to peacetime economy.
NameDates [b]DurationPanic of 17851785–1788~ 4 years1789–1793~ 4 years1792~ 2 months1796–1799~ 3 yearsMobilizing the economy for world war finally cured the depression. Millions of men and women joined the armed forces, and even larger numbers went to work in well-paying defense jobs. World War Two affected the world and the United States profoundly; it continues to influence us even today.
- 7.0
- 9.8
- 1.1
- 1.7
- Federal Spending and Military Spending during World War II. (dollar values in billions of constant 1940 dollars) Nominal GDP. Federal Spending. Defense Spending.
- Indices of American Manufacturing Output (1939 = 100) 1940. 1941. 1942. 1943. 1944. Aircraft. 245. 630. 1706. 2842. 2805. Munitions. 140. 423. 2167. 3803. 2033. Shipbuilding. 159.
- Civilian Employment and Unemployment during World War II. (Numbers in thousands) 1940. 1941. 1942. 1943. 1944. 1945. All Non-institutional Civilians. 99,840. 99,900.
- Population Growth in Washington, Oregon, and California, 1940-1945. (populations in millions) 1940. 1941. 1942. 1943. 1944. 1945. % growth. 1940-1945. Washington.
May 14, 2020 · In the summer of 1945, as World War II drew to a close, the U.S. economy was poised on the edge of an uncertain future. Would it be able to transition from a full-bore war economy to a...
Nov 22, 2013 · The 1937 recession occurred during the recovery from the Great Depression. The recovery began in 1933 and culminated during World War II. The recession of 1937 lived quietly in the Great Depression’s shadow, that is, until the 2008 crisis rekindled interest in mid-recovery contractions.
