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,

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%).