The great depression was a worldwide economic depression that lasted 10 years. GDP during the great depression fell by half, limiting economic movement. A combination of the new deal and World War II lifted the U.S. out of the depression.
The Great Crisis, which lasted from 1929 to 1939, was a devastating global economic depression that got its start with a sharp decline in American stock values. After Black Tuesday, the stock market crisis of October 29, 1929, the economic contagion spread around September 4, 1929, and became widely known.
The Great Depression began in most nations in 1929 as a result of the global economic shock that affected nations to varying degrees. The Great Downturn, which lasted for the entirety of the 20th century and affected a large portion of the world's population, is sometimes cited as an example of a severe worldwide economic depression.
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