Recession (aug 1, 1957 – apr 1, 1958)
Description:
Monetary policy was tightened during the two years before 1957, followed by an easing of policy at the end of 1957. The budget balance changed from a surplus of 0.8% to a deficit of 0.6% in GDP.Added to timeline:
Date:
aug 1, 1957
apr 1, 1958
~ 8 months
