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About: Great Recession in the United States     Goto   Sponge   NotDistinct   Permalink

An Entity of Type : yago:WikicatRecessions, within Data Space : dbpedia.org associated with source document(s)

Type: Thingyago:Abstraction100002137yago:Attribute100024264yago:Calamity107314838yago:Condition113920835yago:EconomicCondition114488594yago:Event100029378yago:Happening107283608yago:Misfortune107304852yago:PsychologicalFeature100023100yago:Recession114013368yago:YagoPermanentlyLocatedEntityyago:State100024720yago:Trouble107289014yago:WikicatEconomicDisastersyago:WikicatEconomicDisastersInTheUnitedStatesyago:WikicatRecessions New Facet based on Instances of this Class

The Great Recession in the United States was a severe financial crisis combined with a deep recession. While the recession officially lasted from December 2007 to June 2009, it took many years for the economy to recover to pre-crisis levels of employment and output. This slow recovery was due in part to households and financial institutions paying off debts accumulated in the years preceding the crisis along with restrained government spending following initial stimulus efforts. It followed the bursting of the housing bubble, the housing market correction and subprime mortgage crisis.