1958 - 1973

By cj22609

  • 1958

    GDP: $481,200,000,000. U.S Economy Health: The health of the U.S economy was just starting to get better after an 8 month recession starting at the end of 1957 and continuing until may of 1958. As the year of 1958 came to an end, the economy was heading towards new high levels of employment and production.
  • Period: to

    1958 - 1973

  • 1959

    GDP: $521,700,000,000. U.S Economy Health: Good overall, still recovering a little from the recession of 1957-1958.

  • 1960

    GDP: $542,400,000,000. U.S Economy Health: In April of 1960, another recession hit, this one was 10 months long. Causing a drop in the GDP by 1.6%.

  • 1961

    GDP: $562,200,000,000. U.S Economy Health: The recession continued into February 1961, but then started to get better just like the one in 1957-1958.

  • 1962

    GDP: $603,900,000,000. U.S Economy Health: From Dec 1961 - June 1962, there was a stock market decline known as the Flash Crash of 1962. The stock market did not experience a stable recovery until after the end of the Cuban Missile Crisis.

  • 1963

    GDP: $637,500,000,000. U.S Economy Health: Kennedy Assassination. the health of the economy was said to be outstanding, and there was a massive increase in the GDP.

  • 1964

    GDP: $684,500,000,000. U.S Economy Health: During this year there was a very strong expansion of our economy leading us to yet again another high GDP.

  • 1965

    GDP: $742,300,000,000. U.S Economy Health: Inflation began to pick up slightly, the GNP grew by $9 billion and unemployment stood at 1.4%.

  • 1966

    GDP: $813,400,000,000. U.S Economy Health: The economy was looking pretty good by the winter of 1966. so the U.S had almost hit its peak on the economy, or so they thought.

  • 1967

    GDP: $860,000,000,000. U.S Economy Health: Inflation started to become concerning. in august 1967, Johnson asked congress to impose a temporary 10% income tax surcharge.

  • 1968

    GDP: $940,700,000,000. U.S Economy Health: The surcharge became a law on June 28 1968, that was tied to a $6 billion budget reduction.

  • 1969

    GDP: $1,017,600,000,000. U.S Economy Health: the economy moved on slowly, under Nixons rule. and the Inflation rate had reached 6.5% by the 1970s.

  • 1970

    GDP: $1,073,300,000,000. U.S Economy Health: inflation rose to 6.5%. Stock market is a mess, losing 40% in an 18-month period.

  • 1971

    GDP: $1,164,900,000,000. U.S Economy Health: The Nixon shock was a series of economic measures undertaken by the United States and Nixon, in response to increasing inflation, wage and price freezes, and surcharges on imports.

  • 1972

    GDP: $1,279,100,000,000. U.S Economy Health: Very healthy economy and it had stable prices, and a high real growth rate. As well as a fall in unemployment.

  • 1973

    GDP: $1,425,400,000,000. U.S Economy Health: The 1973-1975 recession broke the American economy, starting in November the U.S was gripped by a vicious recession characterized by "stagflation", which is high unemployment plus high inflation.