When did the great depression start | when did the great depression start
The Great Depression was a worldwide economic depression that lasted 10 years. The great depression was caused by the Fed’s reluctance to increase the money supply and by the stock market crash of 1929.
When did the great depression start – It started in 1929 and lasted until about 1939.
With the limited economic movement, the GDP fell by half during the great depression. The Great Depression started in United States and spread across the world. It was the longest and severe economic downfall in the history.
There were many adverse results of this depression, some were:
Increase in Poverty
In 1933, the great depression was technically over. United States of America was fully recovered in 1939.
There are many causes of the decline:
Stock Market Crash
Monetary Contraction and Banking Panics
International Trade and Lending
Great Depression in Australia
In 1932, unemployment reached a record high of 29%. Also, there was gradual recovery after the increase in meat and wool price.
Great Depression in India
India was stable as compared to the world. The Economic condition of India was far better than the other parts of the world.
The Great Depression caused both emotional as well as financial trauma. We discussed about the Great Depression, hope you like the article. 🙂
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