Recession of 2009/Timelines: Difference between revisions

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''(for earlier events see the crash of 2008 timelines [[http://en.citizendium.org/wiki/Crash_of_2008/Timelines]])''
''(for earlier events see the crash of 2008 timelines [[http://en.citizendium.org/wiki/Crash_of_2008/Timelines]])''


==Selected economic statistics==
===Growth rates===
GDP at constant market prices<br>
% change on previous period
::{|class="wikitable"
!
! 2006
! 2007
! 2008
!
!Q1 07
!Q2 07
!Q3 07
!Q4 04
!
!Q1 08
!Q2 08
!Q3 08
!Q4 08
!
!Q1 09
!Q2 09
|-
|United States
| 2.8
| 2.0
| 1.1
|
| 0.0
| 1.2
| 1.6
| 0.0
|
| 0.2
| 0.7
| -0.1
| -1.4
|
| -1.6
| -0.3
|-
|Japan
| 2.0
| 2.4
| -0.6
|
| 1.0
| -0.3
| 0.4
| 1.0
|
| 0.3
| -1.2
| -0.4
| -3.2
|
| -3.3
|  0.6
|-
|Canada
| 3.1
| 2.7
| 0.5
|
| 1.0
| 1.0
| 0.6
| 0.2
|
| -0.2
| 0.1
| 0.2
| 0.8
|
| -1.4
|-
|United Kingdom
| 2.8
| 3.0
| 0.7
|
| 0.8
| 0.8
| 0.6
| 0.9
|
| 0.3
| 0.0
| -0.7
| -1.6
|
| -2.4
| -0.8
|-
|Germany
| 3.0
| 2.5
| 1.3
|
| 0.4
| 0.4
| 0.6
| 0.3
|
| 1.5
| -0.5
| -0.5
| -2.1
|
| -3.8
|  0.3
|-
|France
| 2.2
| 2.2
| 0.8
|
| 0.6
| 0.5
| 0.7
| 0.4
|
| 0.4
| -0.3
| 0.1
| -1.1
|
| -1.2
|  0.3
|-
|Italy
| 2.0
| 1.6
| -1.0
|
| 0.2
| 0.1
| 0.2
| -0.3
|
| 0.3
| -0.6
| -0.7
| -2.1
|
| -2.4
| 
|}
Source: OECD, Main Economic Indicators
===Unemployment rates===
:(ILO definition, seasonally adjusted)
:::::::{|class = "wikitable"
!align="center"|
!align="center"| 2007 IV
!align="center"| 2008 I
!align="center"| 2008 II
!align="center"| 2008 III
!align="center"| 2008 IV
|-
|align="center"| United States
|align="center"| 4.8
|align="center"| 4.9
|align="center"| 5.4
|align="center"| 6.0
|align="center"| 6.9
|-
|align="center"| United Kingdom
|align="center"| 5.1
|align="center"| 5.1
|align="center"| 5.4
|align="center"| 5.8
|align="center"| 6.3
|-
|align="center"|Japan
|align="center"| 3.8
|align="center"| 3.9
|align="center"| 4.0
|align="center"| 4.1
|align="center"| 4.0
|-
|align="center"|Germany
|align="center"| 8.0
|align="center"| 7.6
|align="center"| 7.4
|align="center"| 7.5
|align="center"| 7.9
|-
|align="center"|France
|align="center"| 7.8
|align="center"| 7.6
|align="center"| 7.7
|align="center"| 7.7
|align="center"| 8.0
|}
: (Source: OECD)
===Fiscal stimulus packages===
: ( % of GDP)
:::::::::{|class = "wikitable"
!
!align="center"| 2008
!align="center"| 2009
!align="center"| 2010
!align="center"| Total
|-
|align="center"|United States
|align="center"|1.1
|align="center"|2.0
|align="center"|1.8
|align="center"|4.8
|-
|align="center"|United Kingdom
|align="center"|0.2
|align="center"|1.4
|align="center"|-0.1
|align="center"|1.5
|-
|align="center"|Germany
|align="center"|0.0
|align="center"|1.5
|align="center"|2.0
|align="center"|3.4
|-
|align="center"|France
|align="center"|0.0
|align="center"|0.7
|align="center"|0.7
|align="center"|1.3
|-
|align="center"|Japan
|align="center"|0.4
|align="center"|1.4
|align="center"|0.4
|align="center"|2.2
|-
|align="center"|Canada
|align="center"|0.0
|align="center"|1.5
|align="center"|1.3
|align="center"|2.7
|}
::(Source: IMF estimates[http://www.imf.org/external/np/pp/eng/2009/020109.pdf])
===Public Debt===
:( % of GDP )
:::{|class = "wikitable"
!
!align="center"|&nbsp;&nbsp;&nbsp;Japan&nbsp;&nbsp;&nbsp;
!align="center"|&nbsp;&nbsp;&nbsp;Italy&nbsp;&nbsp;&nbsp;
!align="center"|&nbsp;&nbsp; France&nbsp;&nbsp;
!align="center"|&nbsp;&nbsp; Germany &nbsp;&nbsp;
!align="center"| United States
!align="center"| United Kingdom
!align="center"| &nbsp;&nbsp;China&nbsp;&nbsp;
!align="center"| Australia
|-
|2007
|align="center"|195
|align="center"|107
|align="center"|65
|align="center"|65
|align="center"|62
|align="center"|44
|align="center"|20
|align="center"|9
|-
|2014 est
|align="center"|222
|align="center"|118
|align="center"|79
|align="center"|77
|align="center"|100
|align="center"|76
|align="center"|19
|align="center"|4
|}
::''(Source: IMF March 2009 [http://www.imf.org/external/np/pp/eng/2009/030609.pdf])''


==Timelines 2008-2010 ==  
==Timelines 2008-2010 ==  

Revision as of 08:24, 6 October 2009

This article is developing and not approved.
 Main Article
 Discussion
Related Articles  [?]
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Citable Version  [?]
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Tutorials [?]
Addendum [?]
 
https://en.citizendium.org/wiki/index.php?title=Recession_of_2009/Timelines&printable=yes
A timeline (or several) relating to Recession of 2009.


(for earlier events see the crash of 2008 timelines [[1]])


Timelines 2008-2010

2008, 4th quarter

World

The oil price falls. (November US light $60/barrel, down fron July $147 peak)[2].

United States

Federal Reserve Bank promises to buy up to $500 billion worth of mortgage-backed securities guarantee by Fannie Mae and Freddie Mac and up to $100billion worth of their direct debt [3].
Federal Reserve Bank cuts its discount rate to 0 to 1/4 per cent [4].

Europe

European Central Bank cuts MRO rate from 3.75% to 2.5" [5]
Bank of England cuts bank rate from 4.5% to 2%
Britain adopts a major fiscal stimulus package [6].
German bank rescue package is agreed [7].
German Chancellor rejects fiscal stimulus policies ("senseless race to spend billions") [8].

Asia

China announces a $586 billion fiscal stimulus [9]

2009, 1st quarter

World

United States

US Congress approves stimulus package - American Recovery and Reinvestment Act(H.R. 1) - a $839 billion stimulus package [10]

Europe

European Central Bank cuts MRO rate to 2% [11]
Bank of England cuts discount rate cut- from 2% to 1.5% [12].
banks lent £185 bn under the Special Liquidity Scheme [13]
Germany introduces major fiscal stimulus package [14]

Asia

2009, 2nd quarter

World

Oil price rises - to over $70 per barrel

United States

Europe

Bank of England cuts discount rate to 0.5% and announces £75 billion asset purchase under its Asset Purchase Scheme [15] . The beginning of its programme of quantitative easing [16].

Asia

2009 3rd quarter

World

United States

Europe

Asia

2009 4th quarter

World

United States

Europe

Asia

2010 1st quarter

World

United States

Europe

Asia

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