In their early 1980s united states suffered a recession. In 1980, the gross domestic product measured -0.3%. The following year the GDP grew at 2.5% in 1982 it slipped in order to -1.9%. During this period the unemployment rate was rising. However, the good news was interest rates, that had been previously sky high, were coming down. From 1983 to 1989 the GDP grew steadily, interest rates fell steadily and the unemployment rate fell as well. In fact, the 1980s were an age of great prosperity, but the decade started, like this decade, in recession. In this article, we will compare economic downturn of the 1980s to our most recent recession.
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