Recessions and depressions

FILE - In this Wednesday, May 13, 2020 file photo, Ford Motor Co. employees work a ventilator at the Rawsonville plant in Ypsilanti Township, Mich. The plant was converted into a ventilator factory, as hospitals battling the coronavirus report shortages of the life-saving devices. According to the Institute for Supply Management, U.S. manufacturing rebounded in June 2020 as major parts of the country opened back up, ending three months of contraction in the sector caused by the coronavirus pandemic. (AP Photo/Carlos Osorio)
August 03, 2020 - 9:42 am
WASHINGTON (AP) — U.S. manufacturing improved again in July with a key gauge of activity rising further into expansion territory. The Institute for Supply Management, an association of purchasing managers, said Monday that its manufacturing index rose to 54.2 last month, up from a June reading of...
Read More
FILE - In this June 17, 2020 file photo, a sign advertises a sale at an H&M store along Lincoln Road Mall in Miami Beach, Fla. U.S. consumer confidence had a sharp drop in July to a reading of 92.6 as coronavirus cases in many parts of the country began rising again. (AP Photo/Lynne Sladky, File
July 31, 2020 - 8:45 am
WASHINGTON (AP) — American consumers increased their spending in June by a solid 5.6%, helping regain some of record plunge that occurred after the coronavirus struck hard in March and paralyzed the economy. But the virus' resurgence in much of the country could impede further gains. Last month’s...
Read More
FILE - In this June 1, 2020, file photo, waiters prepare the terrace of a restaurant in order to respect distancing measures in Paris as France gradually lifts its lockdown due to the coronavirus. France's economy shrank by nearly 14% in the second quarter when the country was in coronavirus lockdown, a third consecutive quarter of negative growth in a worsening recession, the national statistics agency said Friday, July 31, 2020. (AP Photo/Christophe Ena, File)
July 31, 2020 - 7:32 am
PARIS (AP) — The economy of the 19-country eurozone shrank by a devastating 12.1% in the April-June period from the quarter before - the largest drop on record - as coronavirus lockdowns shut businesses and hampered consumer spending. Economists say the worst of the downturn is past as many...
Read More
FILE - In this June 25, 2020, file photo Rep. Karen Bass, D-Calif., speaks during a news conference on the House East Front Steps on Capitol Hill in Washington ahead of the House vote on the George Floyd Justice in Policing Act of 2020. California Congresswoman Bass has emerged a leading contender to be Democrats' vice presidential candidate. Allies say her reputation as a bridge-builder would make her a strong partner to presumptive Democratic presidential nominee. (AP Photo/Carolyn Kaster, File)
July 31, 2020 - 6:52 am
SACRAMENTO, Calif. (AP) — California's leaders were deadlocked and on the verge of financial catastrophe in 2008. Five negotiators, including Republican Gov. Arnold Schwarzenegger, couldn't agree on a budget that would guide the nation's most populous state through the Great Recession. Enter Karen...
Read More
A waitress serves a glass of champagne at La Grande Georgette restaurant in front of the cathedral in Reims, the Champagne region, east of Paris, Tuesday, July 28, 2020. Producers in France’s eastern Champagne region, headquarters of the global industry, say they’ve lost about 1.7 billion euros ($2 billion) in sales this year, as turnover fell by a third — a hammering unmatched in living memory, and worse than the Great Depression. (AP Photo/Francois Mori)
July 31, 2020 - 2:38 am
REIMS, France (AP) — Champagne is losing its fizz. For months, lockdown put the cork on weddings, dining out, parties and international travel — all key sales components for the French luxury wine marketed for decades as a sparkling must at any celebration. Producers in France's eastern Champagne...
Read More
A shopper passes a display window with mask covered mannequins at a dress store, Thursday, July 30, 2020, in McAllen, Texas. (AP Photo/Eric Gay)
July 30, 2020 - 4:37 pm
WASHINGTON (AP) — The coronavirus pandemic sent the U.S. economy plunging by a record-shattering 32.9% annual rate last quarter and is still inflicting damage across the country, squeezing already struggling businesses and forcing a wave of layoffs that shows no sign of abating. The economy's...
Read More
FILE - In this July 30, 1932, file photo, doves are released during the opening ceremony for the Tenth Olympiad at Los Angeles. The athletes of various countries are shown on the field while the Olympic beacon and the entrance to the stadium is shown in the background. (AP Photo/File)
July 30, 2020 - 1:28 pm
Even though the 1932 Summer Olympics were held during the Great Depression, Los Angeles first chance to host the Games still stand as a model for innovation and profitability. It was the first time that the medalists stood on a victory platform and watched the raising of the national flag of the...
Read More
FILE - In this July 29, 2020, file photo President Donald Trump arrives to deliver remarks about American energy production during a visit to the Double Eagle Energy Oil Rig in Midland, Texas. Trump, like many fellow Republicans, holds out tax reductions and regulatory cuts as economic cure-alls and frames himself as a conservative champion in seemingly endless culture wars. But the president, still trying to fashion himself as an outsider, offers little detail about how he’d pull the levers of government in a second term. (AP Photo/Evan Vucci, File)
July 30, 2020 - 4:41 am
WASHINGTON (AP) — President Donald Trump and his Democratic challenger, Joe Biden, both promise sweeping progress over the next four years –- via starkly different paths. Trump, like many fellow Republicans, holds out tax reductions and regulatory cuts as economic cure-alls and frames himself as a...
Read More
FILE - In this July 13, 2020 file photo, a For Rent sign hangs on a closed shop during the coronavirus pandemic in Miami Beach, Fla. Having endured what was surely a record-shattering slump last quarter, the U.S. economy faces a dim outlook as a resurgent coronavirus intensifies doubts about the likelihood of any sustained recovery the rest of the year. (AP Photo/Lynne Sladky)
July 29, 2020 - 1:32 pm
WASHINGTON (AP) — Having endured what was surely a record-shattering slump last quarter, the U.S. economy faces a dim outlook as a resurgent coronavirus intensifies doubts about any sustained recovery the rest of the year. A huge plunge in consumer spending as people stayed home and avoided...
Read More
A woman wearing a face mask stands beneath a bank's electronic board showing the Hong Kong share index at Hong Kong Stock Exchange in Hong Kong Tuesday, July 28, 2020. Shares advanced in Asia on Tuesday after U.S. stocks resumed their upward march on Wall Street, while the price of gold pushed to nearly $1,970 per ounce. (AP Photo/Vincent Yu)
July 27, 2020 - 10:37 pm
MITO, Japan (AP) — Shares advanced in Asia on Tuesday after U.S. stocks resumed their upward march on Wall Street, while the price of gold pushed to nearly $1,970 per ounce. Benchmarks climbed in Hong Kong, Tokyo and Shanghai after the S&P 500 rose 0.7% overnight. Much attention will be focused...
Read More

Pages