Introduction

When 1958 opened, activity was declining in the United States more rapidly than in any previous post-war recession. There were fears in some quarters that the recession would develop cumulative force and spread to other countries in the classical way, through reduced imports and crises of confidence. These fears proved quite groundless. The recession was halted in April, and a rapid recovery began at once. By the end of the year, the former levels of output had been largely regained. Moreover, the imports of the United States showed a surprising resistance to the recession and their volume was maintained almost unchanged.

Sustainable Development Goals:

Decent Work and Economic Growth

Industry, Innovation and Infrastructure

Peace, Justice and Strong Institutions