Recession_of_1953
Recession of 1953
Economic downturn in the United States
The recession of 1953 was a period of economic downturn in the United States that began in the second quarter of 1953 and lasted until the first quarter of 1954. The total recession cost roughly $56 billion. It has been described by James L. Sundquist, a staff member of the Bureau of the Budget and speechwriter for President Harry S. Truman, as "relatively mild and brief."[1] The 1953 recession is an example of a V-shaped recession, with a sharp three quarter decline that is followed by a sharp recovery.
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