Supply and Demand (in that order): Industrial Production 1929 and 2008

Friday, January 16, 2009

Industrial Production 1929 and 2008

Here's an update through Dec 2008. Pessimistic interpretation: 2008 is 1/3 as bad as 1929. 1/3 of the Great Depression would not be good.

2 comments:

Alberto said...: Professor,

How does this compare to the recent appreciation of the dollar? Also, what percentage of the economy does industrial production make up?

Thanks in advance,; January 16, 2009 at 11:18 AM
Tino said...: http://www.minneapolisfed.org/publications_papers/studies/recession_perspective/index.cfm

More optimistic data.

Alberto industry was 40% of GDP in the 1920s-30s, and is slightly above 20% of GDP today (of which manufacturing is ca 12%).; January 17, 2009 at 1:51 PM

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