Type or paste a DOI name into the text box. Jump to navigation Jump to search This article is about the global economic downturn during the world Economic Outlook, September 2006: Financial Systems and Economic Cycles PDF 21st century. Not to be confused with Great Depression. The Great Recession was a period of general economic decline observed in world markets during the late 2000s and early 2010s.
The IMF’s World Economic Outlook is packed with country specific facts, figures, and worldwide projections that present the outlook for growth, inflation, trade, and other economic developments in a clear, practical format. Leading international economists pull together the latest data on key topics, producing informed projections and policy analyses that show where the global economy is headed in the years to come. Business executives, policymakers, bankers, investors, marketing strategists, and economists worldwide refer to the WEO with confidence because it delivers a balanced view of the current economic situation, built upon the respected and extensive macroeconomic expertise and statistical resources of the IMF. The WEO is the product of a unique international exercise in information gathering and analysis performed by over 1,000 economists on the IMF staff. An annual subscription to the World Economic Outlook, published at least twice a year in English, French, Spanish, and Arabic, offers a comprehensive assessment of the international economic situation as well as prospects for the future. With its analyses backed by the expertise and unparalleled resources of the IMF, the World Economic Outlook is the authoritative reference in its field. Today, when even small economic fluctuations can trigger major financial swings, the WEO supplies a solid source of actionable information and data.
The scale and timing of the recession varied from country to country. The recession was not felt equally around the world. Whereas most of the world’s developed economies, particularly in North America and Europe, fell into a definitive recession, many of the newer developed economies suffered far less impact, particularly China and India, whose economies grew substantially during this period. The Great Recession,’ is a misnomer.
Recessions are mild dips in the business cycle that are either self-correcting or soon cured by modest fiscal or monetary stimulus. Because of the continuing deflationary trap, it would be more accurate to call this decade’s stagnant economy The Lesser Depression or The Great Deflation. The Great Recession met the IMF criteria for being a global recession only in the single calendar year 2009. December 2007 and ended in June 2009, and thus extended over eighteen months. The years leading up to the crisis were characterized by an exorbitant rise in asset prices and associated boom in economic demand.