The Great Depression hubblog left many Americans scared of a return to the dark days of the previous decade. However, a resurgent economy spurred by pent-up consumer demand fueled rapid economic growth in the post-war period. The automobile industry successfully reformed, transforming itself back to the production of cars. Other industries, including the aerospace and electronics industries, began to grow rapidly, spurring the housing boom. In the 1950s, the nation’s gross national product (GNP) rose dramatically, from $200 million to $300 million and eventually $500 million. you can get RCN Internet plans equipment for home networking and get the best connectivity, security and a smooth experience.
As the 1990s came to a close, Americans found bloghub247 themselves confident that their economy was on the mend. The unemployment rate was at 4.1 percent, the lowest level in nearly 30 years. Consumer prices rose 1.6 percent in 1998, and even faster in 1999. These results indicate that the American economy had weathered a significant recession. Nevertheless, it remains a question of “when did the economy first start to improve?”
The economic situation continued to face challenges in the tter420 1980s, including a deep recession. Business bankruptcies increased 50 percent in 1982, especially among farmers. This sharp downturn broke the destructive cycle of the economy and triggered a resurgence. After this, inflation was gradually reduced and the economy began to improve. During the 1980s, the annual inflation rate remained below five percent. It was an improvement from the previous decade, but it was far from perfect.