The US Economy Has Grown The Fastest Under Which President?
From 1948 through to 2009, the United States economy has grown by an average of 3.28% per year.
The US economy has managed to expand in 52 of the 62 years from 1948-2009. The economy has contracted a total of nine years since 1948, with the worst year coming in 2009 (-2.6%). In 2008, the US economy posted flat growth.
Democrats have occupied the White House in 26 of the 62 years since 1948. Average GDP growth in the country over those 26 years has been 4.01%.
Republicans have occupied the White House in 36 of the 62 years since 1948. Average GDP growth over those 36 years has been 2.75%.
The worst year for the US economy since 1948 came last year (2009), when the GDP contracted by 2.6%.
Here are the worst five years for the economy since 1948:
2009, -2.6%, Barack Obama
1982, -1.9%, Ronald Reagan
1958, -0.9%, Dwight Eisenhower
1974, -0.6%, Richard Nixon / Gerald Ford
1954, -0.6%, Dwight Eisenhower
The best year for the US economy since 1948 came in 1950, when the economy managed to expand by 8.7%.
Here are the top five years since 1948:
1950, 8.7%, Harry Truman
1951, 7.7%, Harry Truman
1955, 7.2%, Dwight Eisenhower
1959, 7.2%, Dwight Eisenhower
1984, 7.2%, Ronald Reagan
Here are the individual performances of each president since 1948:
1948-1952 (Harry S. Truman, Democrat), +4.82%
1953-1960 (Dwight D. Eisenhower, Republican), +3%
1961-1964 (John F. Kennedy / Lyndon B. Johnson, Democrat), +4.65%
1965-1968 (Lyndon B. Johnson, Democrat), +5.05%
1969-1972 (Richard Nixon, Republican), +3%
1973-1976 (Richard Nixon / Gerald Ford, Republican), +2.6%
1977-1980 (Jimmy Carter, Democrat), +3.25%
1981-1988 (Ronald Reagan, Republican), 3.4%
1989-1992 (George H. W. Bush, Republican), 2.17%
1993-2000 (Bill Clinton, Democrat), 3.88%
2001-2008 (George W. Bush, Republican), +2.09%
2009 (Barack Obama, Democrat), -2.6%
We obviously have incomplete data on Barack Obama as he hasn't finished his term yet.
The best performance was turned in by Lyndon B. Johnson, who managed to preside over an average expansion of 5.05% per year.
If we exclude Barack Obama due to incomplete data, then the worst performance was turned in by George W. Bush, as the economy grew by an average of 2.09% per year during his time as president.
Source: Davemanuel.com - Historical GDP Numbers (United States)
Filed under: General Knowledge