Interesting graph which shows the depth of the EU recession compared to the great depression of the 1930s.
UK recession compared
This graph is from the start of 2013. Since, then the UK economy is showing signs of picking up. But, it is still worth bearing in mind the length of the decline in GDP since the start of the recession.
For the first 15 months, the decline in real GDP is comparable to the great depression of the 1930s. The great depression shows a bigger fall in GDP (-8.0%) from peak. But, during the 2008- recession, GDP stagnated the longest. Continue Reading →