Recession of 2009/Tutorials
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- Economic Statistics of the Recession
United States
Growth rates
- (Percentage change at an annual rate [1])
2007 2008 I 2008 II 2008 III 2008 IV 2009 I GDP 2.3 0.9 2.8 -0.5 -6.2 Consumption 2.2 0.9 1.2 -3.8 -4.3 Business investment 6.4 2.4 2.5 -1.7 -21.0 Residential construction -19.0 -25.5 -13.3 -16.1 -22.2
- (Source: US Department of the Treasury [1])
Unemployment rates
- (per cent - seasonally adjusted)
Jan Feb March April May June July Aug Sept Oct Nov Dec 2008 4.9 4.8 5.1 5.0 5.5 5.6 5.8 6.2 6.2 6.6 6.8 7.2 2009 7.6 8.1
- (Source: US Department of Labor [2])
United Kingdom
Growth rates
- (Percentage change at an annual rate [1])
2007 2008 I 2008 II 2008 III 2008 IV 2009 I GDP 3.0 1.6 0.0 -2.8 -6.0 Household expenditure 3.3 3.8 -1.0 -0.8 -2.8 Fixed capital investment 7.2 -11.0 -5.0 -13.8 -8.9
- (Source UK National Statistics [3])
House prices
(per cent change on previous period)
2008 II 2008 III 2008 IV 2008 Dec 2009 Jan 2009 Feb -5.1 -5.6 -5.2 -1.6 2.0 -2.3
- {Source: Halifax Building Society)
International comparisons
GDP growth rates
- (per cent change on previous quarter)
2007 IV 2008 I 2008 II 2008 III 2008 IV 2009 I 2009 II 2009 II United States 0.0 0.2 0.7 -0.7 -1.4 -1.6 -0.3 United Kingdom 0.9 0.3 0.0 -0.7 -1.8 -2.4 -0.7 Japan 0.5 0.6 -1.0 -1.0 -3.5 -3.1 0.9 Germany 0.3 1.4 -0.4 -0.3 -2.4 -3.5 0.3 France 0.4 0.4 -0.3 0.2 -1.4 -1.3 0.3 Italy 0.4 -0.6 -0.8 -2.1 -2.7 -0.5
- (Source: OECD [4]
Unemployment rates
- (ILO definition, seasonally adjusted)
2007 IV 2008 I 2008 II 2008 III 2008 IV United States 4.8 4.9 5.4 6.0 6.9 United Kingdom 5.1 5.1 5.4 5.8 6.3 Japan 3.8 3.9 4.0 4.1 4.0 Germany 8.0 7.6 7.4 7.5 7.9 France 7.8 7.6 7.7 7.7 8.0
- (Source: OECD)
Fiscal stimulus packages
- ( % of GDP)
2008 2009 2010 Total United States 1.1 2.0 1.8 4.8 United Kingdom 0.2 1.4 -0.1 1.5 Germany 0.0 1.5 2.0 3.4 France 0.0 0.7 0.7 1.3 Japan 0.4 1.4 0.4 2.2 Canada 0.0 1.5 1.3 2.7
- (Source: IMF estimates[5])
Public Debt
- ( % of GDP )
Japan Italy France Germany United States United Kingdom China Australia 2007 195 107 65 65 62 44 20 9 2014 est 222 118 79 77 100 76 19 4
- (Source: IMF March 2009 [6])