US Historical Growth and Recession

This chart illustrates the US real Gross Domestic Product (GDP) on a quarterly basis from 1947 to 2020. The graph includes shaded vertical bars that represent periods of recession or economic contraction. A recession is defined as negative economic growth for two consecutive quarters, and this definition is also applied to this graph. The most recent instances of a recession were observed during the 2008 financial crisis and the COVID-19 pandemic.