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This is a topic from the The 1990's forum on inthe00s.
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Subject: When did the early 90's recession start?
Written By: batfan2005 on 09/18/06 at 5:22 pm
Does anybody remember when the early 90's recession officially started, was it 1990 or 1991?
Subject: Re: When did the early 90's recession start?
Written By: Tanya1976 on 09/18/06 at 7:16 pm
neither around 1988/89
Subject: Re: When did the early 90's recession start?
Written By: Chris MegatronTHX on 09/18/06 at 8:37 pm
yeah 1989 sounds right to me.
Subject: Re: When did the early 90's recession start?
Written By: rich1981 on 09/18/06 at 10:20 pm
The stock crash "Black Monday" in 1987 was probably the first sign of the coming recession, but it was in full swing the year or two later.
Subject: Re: When did the early 90's recession start?
Written By: Foo Bar on 09/18/06 at 10:33 pm
Does anybody remember when the early 90's recession officially started, was it 1990 or 1991?
Correct! A recession requires two or more successive quarters of declining GDP (Gross Domestic Product). In the US, the recession you're talking about started in 3Q90 and ended in 1Q91.
http://www.nber.org/cycles/
The popular buzzword at the time was "jobless recovery" - and much like the (1Q01-4Q02) recession of 2001, the man on the street felt like the recession started a lot earlier, and lasted a lot longer, than it actually did.
Economist: Man on the street
Slowdown: When people lose their jobs.
Recession: When someone you know loses his/her job.
Depression: When you lose your job!
Black Monday was a nasty correction in stocks -- but it was the best buying opportunity of the 1980s. There were recessions elsewhere in the world. The US economy was pretty shaky. But it didn't (technically) fall into recession.