<P> The Great Recession was a period of general economic decline observed in world markets during the late 2000s and early 2010s . The scale and timing of the recession varied from country to country . In terms of overall impact , the International Monetary Fund concluded that it was the worst global recession since the Great Depression in the 1930s . The causes of the recession largely originated in the United States , particularly the real - estate market , though policies of other nations contributed as well . According to the U.S. National Bureau of Economic Research ( the official arbiter of U.S. recessions ) the recession , as experienced in that country , began in December 2007 and ended in June 2009 , thus extending over 19 months . The Great Recession was related to the financial crisis of 2007 -- 08 and U.S. subprime mortgage crisis of 2007 -- 09 . The Great Recession resulted in the scarcity of valuable assets in the market economy and the collapse of the financial sector ( banks ) in the world economy . The banks were then bailed out by the U.S. government . </P>
<P> The Great Recession was a period of general economic decline observed in world markets during the late 2000s and early 2010s . The scale and timing of the recession varied from country to country . In terms of overall impact , the International Monetary Fund concluded that it was the worst global recession since the Great Depression in the 1930s . The causes of the recession largely originated in the United States , particularly the real - estate market , though policies of other nations contributed as well . According to the U.S. National Bureau of Economic Research ( the official arbiter of U.S. recessions ) the recession , as experienced in that country , began in December 2007 and ended in June 2009 , thus extending over 19 months . The Great Recession was related to the financial crisis of 2007 -- 08 and U.S. subprime mortgage crisis of 2007 -- 09 . The Great Recession resulted in the scarcity of valuable assets in the market economy and the collapse of the financial sector ( banks ) in the world economy . The banks were then bailed out by the U.S. government . </P>
when did the last recession start and end
when did the last recession start and end
during the late 2000s and early 2010s
during the late 2000s and early 2010s