Recession of 1949

According to the National Bureau of Economic Research, the recession began in November 1948 and lasted until October 1949.

[1] The 1949 recession was a brief economic downturn; forecasters of the time expected much worse, perhaps influenced by the poor economy in their recent lifetime.

[2] The recession began shortly after President Truman's "Fair Deal" economic reforms.

regard the aftermath of the end of World War II to be the main cause of the recession.

[4] During this recession, the gross domestic product of the United States fell 1.7 percentage points.