Recession of 1960–61
Encyclopedia
The Recession of 1960–1961 was a recession in the United States
. According to the National Bureau of Economic Research
the recession lasted for 10 months, beginning in April 1960 and ending in February 1961. The recession preceded the second longest economic expansion in U.S. history which lasted from February 1961 to the Recession of 1969–70
in December 1969 (only the 1990s saw a longer period of growth).
The Federal Reserve began to tighten monetary policy in 1959 and eased off in 1960.
During this recession, the Gross Domestic Product
of the United States fell 1.6 percent. Though the recession ended in November 1960, the unemployment rate did not peak for several months. In May 1961, the rate reached its height for the cycle of 7.1 percent.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
. According to the National Bureau of Economic Research
National Bureau of Economic Research
The National Bureau of Economic Research is an American private nonprofit research organization "committed to undertaking and disseminating unbiased economic research among public policymakers, business professionals, and the academic community." The NBER is well known for providing start and end...
the recession lasted for 10 months, beginning in April 1960 and ending in February 1961. The recession preceded the second longest economic expansion in U.S. history which lasted from February 1961 to the Recession of 1969–70
Recession of 1969–70
The Recession of 1969–1970 was a relatively mild recession in the United States. According to the National Bureau of Economic Research the recession lasted for 11 months, beginning in December 1969 and ending in November 1970. The recession followed the second longest economic expansion in U.S...
in December 1969 (only the 1990s saw a longer period of growth).
The Federal Reserve began to tighten monetary policy in 1959 and eased off in 1960.
During this recession, the Gross Domestic Product
Gross domestic product
Gross domestic product refers to the market value of all final goods and services produced within a country in a given period. GDP per capita is often considered an indicator of a country's standard of living....
of the United States fell 1.6 percent. Though the recession ended in November 1960, the unemployment rate did not peak for several months. In May 1961, the rate reached its height for the cycle of 7.1 percent.