USA HISTORY

Detailed explanation-1: -Great Depression, worldwide economic downturn that began in 1929 and lasted until about 1939. It was the longest and most severe depression ever experienced by the industrialized Western world, sparking fundamental changes in economic institutions, macroeconomic policy, and economic theory.

Detailed explanation-2: -The Great Depression was a severe worldwide economic depression that took place mostly during the 1930s, beginning in the United States. The timing of the Great Depression varied across nations in most countries, it started in 1929 and lasted until the late 1930s.

Detailed explanation-3: -The Great Depression is referred to as the greatest and also the longest economic downturn or recession in modern history. It started in the USA. After that, it had a rippling effect on the economies of the world. It is said that the Great Depression started with the USA stock market crash in October 1929.

Detailed explanation-4: -International trade fell by more than 50%, unemployment in the U.S. rose to 23% and in some countries rose as high as 33%. Cities around the world were hit hard, especially those dependent on heavy industry. Construction was virtually halted in many countries.

Detailed explanation-5: -The contraction began in the United States and spread around the globe. The Depression was the longest and deepest downturn in the history of the United States and the modern industrial economy. The Great Depression began in August 1929, when the economic expansion of the Roaring Twenties came to an end.