The Great Recession in the U.S. - Statistics & Facts
The Great Recession was a period of economic contraction caused by the Global Financial Crisis (2007-2009). The recession officially lasted from December 2007 until June 2009, however, its effects were long lasting and it was not until 2015 where several key economic indicators in the U.S. economy returned to their pre-crisis levels. The proximate cause of the recession was the , which had experienced a bubble since the early 2000s, and the subsequent failures of a number of large financial institutions, such as the , who had been heavily involved in the . The effects of this financial crisis quickly spread to the non-financial economy, as businesses became unable to access to credit and .
