The recession of 1949 was a downturn in the United States lasting for 11 months. According to the National Bureau of Economic Research, the recession began in November 1948 and lasted until October 1949. November 1948 – October 1949 · 11 months Peak unemployment: 7.9% (October 1949) · GDP: −1.7% S&P 500: −2.8% over the recession The 1948 recession was a brief economic downturn; forecasters of the time expected much worse, perhaps influenced by the poor economy in their recent lifetimes. The recession also followed a period of monetary tightening. Dates: the National Bureau of Economic Research's business cycle chronology. Wiki link Wiki link