The 2008 recession, formally known as the Great Recession, lasted for 18 months, from December 2007 to June 2009.
Understanding the Great Recession's Timeline
Recognized as the most severe economic downturn since the Great Depression, the Great Recession spanned a significant period. It officially began in December 2007, marked by a decline in economic activity across various sectors. The downturn continued through 2008, which is why it is commonly referred to as the "2008 recession," before finally concluding in June 2009. This 18-month duration made it the longest recession the United States had experienced since World War II.
Key Dates and Duration Overview
To provide a clear overview, here are the crucial dates and the total duration of this significant economic event:
| Event | Date |
|---|---|
| Start Date | December 2007 |
| End Date | June 2009 |
| Total Duration | 18 Months |
Beyond Just Duration: The Severity of the Downturn
While its length was notable, the Great Recession was also exceptionally severe in many respects. Its impact extended far beyond just the financial markets, affecting employment, housing, and consumer confidence across the nation. The profound effects necessitated significant government intervention and policy changes to stabilize the economy. Further details on this period can be found through resources like the Federal Reserve History.
