Construction was virtually halted in many countries. Ĭities around the world were hit hard, especially those dependent on heavy industry. rose to 23% and in some countries rose as high as 33%. International trade fell by more than 50%, unemployment in the U.S. Devastating effects were seen in both rich and poor countries with falling personal income, prices, tax revenues, and profits. However, in many countries, the negative effects of the Great Depression lasted until the beginning of World War II. Some economies started to recover by the mid-1930s. By comparison, worldwide GDP fell by less than 1% from 2008 to 2009 during the Great Recession. īetween 19, worldwide gross domestic product (GDP) fell by an estimated 15%.

It was the longest, deepest, and most widespread depression of the 20th century. The economic contagion began around September 1929 and led to the Wall Street stock market crash of October 24 (Black Thursday). It was a period of economic depression that became evident after a major fall in stock prices in the United States.

The Great Depression (1929–1939) was an economic shock that impacted most countries across the world. during 1910–60, with the years of the Great Depression (1929–39) highlighted The Dow Jones Industrial Average, 1928–1930 For other uses, see The Great Depression (disambiguation).ĭorothea Lange's Migrant Mother depicts destitute pea pickers in California, centering on Florence Owens Thompson, age 32, a mother of seven children, in Nipomo, California, March 1936. This article is about the severe worldwide economic downturn in the 1930s.

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