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Great Recession in the Americas
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This article needs to be updated. Please update this article to reflect recent events or newly available information. (September 2017)
Great Recession
Africa
Americas
South America
United States
Asia
Europe
Oceania
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e
North America was one of the focal points of the global, Great Recession. While Canada has managed to return its economy nearly to the levels it enjoyed prior to the recession,[1] the United States and Mexico are still under the influence of the worldwide economic slowdown. The cost of staple items dropped dramatically in the United States as a result of the recession.
Contents
[hide]
1 North America
1.1 U.S.
1.2 Canada
1.3 Mexico
2 South America
3 Timeline of the Great Recession across all continents
4 See also
5 References
6 External links
North America[edit]
U.S.[edit]
Main article: Great Recession in the United States
See also: Subprime mortgage crisis
Number of U.S. household properties subject to foreclosure actions by quarter
The United States entered 2008 during a housing market correction, a subprime mortgage crisis and a declining dollar value.[2] In February, 63,000 jobs were lost,[3] a 5-year record.[4] In September, 159,000 jobs were lost, bringing the monthly average to 84,000 per month from January to September 2008.[5]
Federal reserve rates changes[6]
Date
Discount rate
Discount rate
Discount rate
Fed funds
Fed funds rate
Primary
Secondary
rate change
new interest rate
new interest rate
rate change
new interest rate
Apr 30, 2008 -.25% 2.25% 2.75% -.25% 2.00%
Mar 18, 2008 -.75% 2.50% 3.00% -.75% 2.25%
Mar 16, 2008 -.25% 3.25% 3.75%
Jan 30, 2008 -.50% 3.50% 4.00% -.50% 3.00%
Jan 22, 2008 -.75% 4.00% 4.50% -.75% 3.50%
Canada[edit]
Canada was one of the last industrialized nations to enter into a downturn. GDP growth was negative in Q1, but positive in Q2 and Q3 of 2008. The recession officially started in Q4. The almost 1-year delay of the start of the recession in Canada relative to the U.S. is largely explained by two factors. First, Canada has a strong banking sector[7] not weighed-down by the same degree of consumer-related debt issues that existed in the United States.[8] The United States economy collapsed from within, while the Canadian economy was being hurt by its trade relationship with the United States. Second, commodity prices continued to rise through to June 2008, supporting a key component of the Canadian economy and delaying the start of recession. In early December 2008, the Bank of Canada, in announcing that it was lowering its central bank interest rate to the lowest level since 1958, also declared that Canada's economy was entering in recession.[9] The Bank of Canada has since announced that it has two consecutive months of GDP decline (Oct -0.1% & Nov -0.7%). The country's unemployment rate could rise to 7.5% in the next two years, according to the latest OECD report.[10]
On July 23, 2009, the Bank of Canada officially declared the recession to be over in Canada.[11] However, the true economic recovery did not begin until November 30, 2009.[12] The Canadian economy would expand at an annualized rate of 6.1% in the first quarter (January–April) of 2010, surpassing analyst expectations and marking the best growth rate since 1999.[13] Economists had expected annualized GDP growth of 5.9% in the last quarter, up from 5% in last year's fourth quarter (September–December 2009).[13] The growth in the first quarter is the third straight quarter of economic expansion in Canada, coming on the heels of three consecutive quarters of contraction.[13] March growth came in at 0.6%, ahead of the 0.5% estimate.[13] 215,900 new jobs have been created in the winter and early spring months of 2010 alone - in the traditional period of time where the Canadian economy is at its most stagnant.
Even with the steps taken to create jobs in the Canadian economy, its recovery remains fragile[14] and job cuts can still be seen in areas that specialize in manual labour.
Canada was also in a recession during the first two quarters of 2015 average both a decline of 0.1 percent of GDP.[15]
Mexico[edit]
Despite the solid financial system of Mexico, the effects of the financial crisis originated in the United States impacted Mexico's export sector by a significant amount considering that 85% of the country's exports go to the United States.[16] Reduced demand, the highest unemployment rate in almost a decade and the depreciation of the Mexican peso caused analysts to revise growth estimates officially from 1.8% to somewhere closer to 0% for 2008.[17][18]
The recession did not show up until 2009, but the recession already slowed down in 2008. The country had a positive growth of 1.5% in 2008 compared to a 3.3% in 2007, by 2009 the economy had shrunk by 6.5%, a percentage bigger than that of the 1994-1995 crisis[19] and the largest in almost eight decades and registering an inflation of 3.57%[20]
Economic recovery from the historic downturn started in the late 2009 with exports rising 22.8 percent.[21] The economic prospects for 2010 in the early 2009 were of a positive growth of 3.5 [22] and some saw a steady recovery by the second quarter of 2010.[23] At the end of 2010, the OECD revealed an estimated growth of 4.5 percent[24] while the Mexican government estimated a growth of over 5 percent[25] and the creation of 730 thousand jobs.[26]
The estimated growth for 2011 range from 3.9 to 4.8.[27] Despite the sustained growth in 2010, it was not enough to cover up the loss of 2009.
South America[edit]
Main article: Great Recession in South America
As it mainly consists of commodity exporters, South America was not directly affected by the financial turmoil, even if the bond markets of Brazil, Argentina, Colombia and Venezuela have been hit.[28]
On the other hand, the continent experienced a tough agricultural crisis at the beginning of 2008.[29] Food prices have increased a lot, due to a lack of arable land. One of the main reasons for the loss of agricultural land was the high value offered by the production of biofuels. Food prices, rising since 2002, ascended from 2006, reaching a peak during the first quarter of 2008. In one year the average price of food rose by about 50%.
Then South American countries were affected by both the global slowdown and the decrease in food prices due to the declining demand.[30] In June 2008, the Economic Commission for Latin America and the Caribbean (ECLAC) declared it expected a 4% growth for 2009. However at the end of the year it predicted that the year 2009 would put an end to six years of prosperity during which Latin America has benefited from high raw materials prices.[31] Production in the region is likely to decline and unemployment to increase.[32][33] However, the Center for Economic and Policy Research has estimated that the region may be able to cope with the global downturn with the right macro-economic policies, as these countries no longer depend on the U.S. economy.[34]
Timeline of the Great Recession across all continents[edit]
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The table below displays all national recessions appearing in 2006-2013 (for the 71 countries with available data), according to the common recession definition, saying that a recession occurred whenever seasonally adjusted real GDP contracts quarter on quarter, through minimum two consecutive quarters. Only 11 out of the 71 listed countries with quarterly GDP data (Poland, Slovakia, Moldova, India, China, South Korea, Indonesia, Australia, Uruguay, Colombia and Bolivia) escaped a recession in this time period.
The few recessions appearing early in 2006-07 are commonly never associated to be part of the Great Recession, which is illustrated by the fact that only two countries (Iceland and Jamaica) were in recession in Q4-2007.
One year before the maximum, in Q1-2008, only six countries were in recession (Iceland, Sweden, Finland, Ireland, Portugal and New Zealand). The number of countries in recession was 25 in Q2‑2008, 39 in Q3‑2008 and 53 in Q4‑2008. At the steepest part of the Great Recession in Q1‑2009, a total of 59 out of 71 countries were simultaneously in recession. The number of countries in recession was 37 in Q2‑2009, 13 in Q3‑2009 and 11 in Q4‑2009. One year after the maximum, in Q1‑2010, only seven countries were in recession (Greece, Croatia, Romania, Iceland, JamaicaVenezuela and Belize).
The recession data for the overall G20-zone (representing 85% of all GWP), depict that the Great Recession existed as a global recession throughout Q3‑2008 until Q1‑2009.
Subsequent follow-up recessions in 2010‑2013 were confined to Belize, El Salvador, Paraguay, Jamaica, Japan, Taiwan, New Zealand and 24 out of 50 European countries (including Greece). As of October 2014, only five out of the 71 countries with available quarterly data (Cyprus, Italy, Croatia, Belize and El Salvador), were still in ongoing recessions.[35][36] The many follow-up recessions hitting the European countries, are commonly referred to as being direct repercussions of the European sovereign‑debt crisis.
Country[a]
Recession period(s) during 2006‑2013[35][36]
(measured by quarter-on-quarter changes of seasonally adjusted real GDP,
as per the latest revised Q3-2013 data from 10 January 2014)[b]
Albania
2007-Q1Q1-2007 until Q2-2007 (6 months)[37]
Q3-2009 until Q4-2009 (6 months)[37]
Q4-2011 until Q1-2012 (6 months)[37]
Argentina
2008-Q4Q4-2008 until Q2-2009 (9 months)
Q1-2012 until Q2-2012 (6 months)
Q3-2013 until Q3-2014 (12 months)
Q3-2015 until Q3-2016 (15 months)
Australia
None
Austria
2008-Q2Q2-2008 until Q2-2009 (15 months)
Q3-2011 until Q4-2011 (6 months)
Belgium
2008-Q3Q3-2008 until Q1-2009 (9 months)
Q2-2012 until Q1-2013 (12 months)
Belize
2006-Q1Q1-2006 until Q2-2006 (6 months)[38]
Q1-2007 until Q3-2007 (9 months)[38]
Q4-2008 until Q1-2009 (6 months)[38]
Q4-2009 until Q1-2010 (6 months)[38]
Q1-2011 until Q2-2011 (6 months)[38]
Q2-2013 until Ongoing (48 months)[38]
Bolivia
None[39][c]
Brazil
2008-Q4Q4-2008 until Q1-2009 (6 months)
Q1-2014 until Q4-2016 (36 months)
Bulgaria
2009-Q1Q1-2009 until Q2-2009 (6 months)
Canada
2008-Q4Q4-2008 until Q2-2009 (9 months)
Chile
2008-Q2Q2-2008 until Q1-2009 (12 months)
China
None
Colombia
None[40][41]
Costa Rica
2008-Q2Q2-2008 until Q1-2009 (12 months)[42]
Croatia
2008-Q3Q3-2008 until Q2-2010 (24 months)
Q3-2011 until Q4-2012 (18 months)
Q2-2013 until Q2 2014 (15 months)
Cyprus
2009-Q1Q1-2009 until Q4-2009 (12 months)
Q3-2011 until Q4-2014 (42 months)
Czech Republic
2008-Q4Q4-2008 until Q2-2009 (9 months)
Q4-2011 until Q1-2013 (18 months)
Denmark
2008-Q3Q3-2008 until Q2-2009 (12 months)
Q3-2011 until Q4-2011 (6 months)
Q4-2012 until Q1-2013 (6 months)
Ecuador
2006-Q4Q4-2006 until Q1-2007 (6 months)[43]
Q1-2009 until Q3-2009 (9 months)[44][45]
El Salvador
2008-Q3Q3-2008 until Q2-2009 (12 months)[46][d]
Estonia
2008-Q3Q3-2008 until Q3-2009 (15 months)
Q1-2013 until Q2-2013 (6 months)
EU (28 member states)
2008-Q2Q2-2008 until Q2-2009 (15 months)
Q4-2011 until Q2-2012 (9 months)
Q4-2012 until Q1-2013 (6 months)
Eurozone (17 member states)
2008-Q2Q2-2008 until Q2-2009 (15 months)
Q4-2011 until Q1-2013 (18 months)
Finland
2008-Q1Q1-2008 until Q2-2009 (18 months)
Q2-2012 until Q1-2015 (36 months)
France
2008-Q2Q2-2008 until Q2-2009 (15 months)
Q4-2012 until Q1-2013 (6 months)
G20 (43 member states, PPP-weighted GDP)[e]
2008-Q3Q3-2008 until Q1-2009 (9 months)
Germany
2008-Q2Q2-2008 until Q1-2009 (12 months)
Greece
2008-Q3Q3-2008 until Q2-2014 (63 months)
Q1-2015 until Q1-2017 (27 months)
Hong Kong
2008-Q2Q2-2008 until Q1-2009 (12 months)[49]
Hungary
2007-Q1Q1-2007 until Q2-2007 (6 months)
Q2-2008 until Q3-2009 (18 months)
Q2-2011 until Q3-2011 (6 months)
Q1-2012 until Q4-2012 (12 months)
Iceland
2007-Q4Q4-2007 until Q2-2008 (9 months)
Q4-2008 until Q1-2009 (6 months)
Q3-2009 until Q2-2010 (12 months)
India
None
Indonesia
None
Ireland
2007-Q2Q2-2007 until Q3-2007 (6 months)
Q1-2008 until Q4-2009 (24 months)
Q3-2011 until Q2-2013 (24 months)
Israel
2008-Q4Q4-2008 until Q1-2009 (6 months)
Italy
2007-Q3Q3-2007 until Q4-2007 (6 months)
Q2-2008 until Q2-2009 (15 months)
Q3-2011 until Q3-2013 (27 months)
Q1-2014 until Q4-2014 (12 months)
Jamaica
2007-Q3Q3-2007 until Q4-2007 (6 months)[50]
Q3-2008 until Q1-2009 (9 months)[50]
Q4-2009 until Q2-2010 (9 months)[50]
Q4-2011 until Q1-2012 (6 months)[50]
Q4-2012 until Q1-2013 (6 months)[50]
Japan
2008-Q2Q2-2008 until Q1-2009 (12 months)
Q4-2010 until Q2-2011 (9 months)
Q2-2012 until Q3-2012 (6 months)
Kazakhstan
2008-Q3Q3-2008 until Q1-2009 (9 months)[51][f]
Latvia
2008-Q2Q1-2008 until Q3-2009 (18 months)
Q1-2010 until Q2-2010 (12 months)
Lithuania
2008-Q3Q3-2008 until Q2-2009 (12 months)
Luxembourg
2008-Q2Q2-2008 until Q1-2009 (12 months)
Macedonia
2009-Q1Q1-2009 until Q3-2009 (9 months)[52]
Q1-2012 until Q2-2012 (6 months)[52]
(not qoq-data, but quarters compared with same quarter of last year)[b]
Q1-2012 until Q2-2012 (6 months)
Malaysia
2008-Q3Q3-2008 until Q1-2009 (9 months)[53][54]
Malta
2008-Q4Q4-2008 until Q1-2009 (6 months)
Mexico
2008-Q3Q3-2008 until Q2-2009 (12 months)
Moldova
None[55][g]
Netherlands
2008-Q2Q2-2008 until Q2-2009 (15 months)
Q2-2011 until Q1-2012 (12 months)
Q3-2012 until Q2-2013 (12 months)
New Zealand
2008-Q1Q1-2008 until Q2-2009 (18 months)
Q3-2010 until Q4-2010 (6 months)
Norway
2009-Q1Q1-2009 until Q2-2009 (6 months)
Q2-2010 until Q3-2010 (6 months)
Q1-2011 until Q2-2011 (6 months)
OECD (34 member states, PPP-weighted GDP)
2008-Q2Q2-2008 until Q1-2009 (12 months)
Paraguay
2008-Q3Q3-2008 until Q1-2009 (9 months)[56]
Q2-2011 until Q3-2011 (6 months)[56]
Peru
2008-Q4Q4-2008 until Q2-2009 (9 months)[57]
Philippines
2008-Q4Q4-2008 until Q1-2009 (6 months)[58][59]
Poland
None
Portugal
2007-Q2Q2-2007 until Q3-2007 (6 months)
Q1-2008 until Q1-2009 (15 months)
Q4-2010 until Q1-2013 (30 months)
Romania
2008-Q4Q4-2008 until Q2-2009 (9 months)
Q4-2009 until Q1-2010 (6 months)
Q4-2011 until Q1-2012 (6 months)
Russia
2008-Q3Q3-2008 until Q2-2009 (12 months)
Q4-2014 until Q4-2016 (27 months)
Serbia
2008-Q2Q2-2008 until Q2-2009 (15 months)[60]
Q2-2011 until Q1-2012 (12 months)[60]
Q3-2012 until Q4-2012 (6 months)[60]
Singapore
2008-Q2Q2-2008 until Q1-2009 (12 months)[61][62][63][64][65]
Slovakia
None
Slovenia
2008-Q3Q3-2008 until Q2-2009 (12 months)
Q3-2011 until Q4-2013 (24 months)[66][67]
South Africa
2008-Q4Q4-2008 until Q2-2009 (9 months)
South Korea
None
Spain
2008-Q2Q2-2008 until Q4-2009 (21 months)
Q2-2011 until Q2-2013 (27 months)
Sweden
2008-Q1Q1-2008 until Q1-2009 (15 months)
Switzerland
2008-Q4Q4-2008 until Q2-2009 (9 months)
Taiwan
2008-Q2Q2-2008 until Q1-2009 (12 months)[68]
Q3-2011 until Q4-2011 (6 months)[68]
Thailand
2008-Q4Q4-2008 until Q1-2009 (6 months)[69]
Turkey
2008-Q2Q2-2008 until Q1-2009 (12 months)
Ukraine
2008-Q2Q2-2008 until Q1-2009 (12 months)[70]
Q3-2012 until Q4-2012 (6 months)[70][71][72]
United Kingdom
2008-Q2Q2-2008 until Q2-2009 (15 months)[73]
United States
2008-Q3Q3-2008 until Q2-2009 (12 months)
Uruguay
None[74]
Venezuela
2009-Q1Q1-2009 until Q1-2010 (15 months)[75]
Jump up ^ 105 out of the 206 sovereign countries in the World, did not publish any quarterly GDP data for the 2006‑2013 period. The following 21 countries were also excluded from the table, due to only publishing unadjusted quarterly real GDP figures with no seasonal adjustment: Armenia, Azerbaijan, Belarus, Brunei, Dominican Republic, Egypt, Georgia, Guatemala, Iran, Jordan, Macao, Montenegro, Morocco, Nicaragua, Nigeria, Palestine, Qatar, Rwanda, Sri Lanka, Trinidad and Tobago, Vietnam.
^ Jump up to: a b Only seasonally adjusted qoq-data can be used to accurately determine recession periods. When quarterly change is calculated by comparing quarters with the same quarter of last year, this results only in an aggregated -often delayed- indication, because of being a product of all quarterly changes taking place since the same quarter last year. Currently there is no seasonal adjusted qoq-data available for Greece and Macedonia, which is why the table display the recession intervals for these two countries only based upon the alternative indicative data format.
Jump up ^ Bolivia had as of January 2014 only published seasonally adjusted real GDP data until Q1-2010, with the statistics office still to publish data for 2010-13.[39]
Jump up ^ According to the methodology note for the quarterly GDP of El Salvador, this data series include seasonally adjustments.[47]
Jump up ^ The G20-zone represents 85% of all GWP, and comprise 19 member states (incl. UK, France, Germany and Italy) along with the EU Commission as the 20th member, who represents the remaining 24 EU member states in the forum.[48]
Jump up ^ Kazakhstan had as of January 2014 only published seasonally adjusted real GDP data until Q4-2009, with the statistics office still to publish data for 2010-13.[51]
Jump up ^ Moldova had as of January 2014 only published seasonally adjusted real GDP data until Q4-2010, with the statistics office still to publish data for 2011-13.[55]

See also[edit]
American Recovery and Reinvestment Act of 2009
References[edit]
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Jump up ^ Employment Situation Summary BLS
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Jump up ^ Canada's jobless rate could hit 7.5 per cent: OECD Archived 2008-12-03 at the Wayback Machine., CTV.ca, November 25, 2008
Jump up ^ Bank declares recession over, The Toronto Star, July 23, 2009
Jump up ^ Gross domestic product sees first gain in a year this quarter
^ Jump up to: a b c d Canadian economic growth best in 10 years - May 31, 2010 Archived May 29, 2010, at the Wayback Machine.
Jump up ^ Tories say economy is top priority
Jump up ^ 'Technical recession' in Canada, despite strong June: StatsCan
Jump up ^ US Embassy data Archived 2009-05-12 at the Wayback Machine.
Jump up ^ Elisabeth Malkin (December 30, 2008). "Mexico's Prudence Fails to Avert a Slowdown". Mexico; United States: NYTimes.com. Retrieved 2009-01-04.
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Jump up ^ CIA Factbook Data
Jump up ^ Bank of Mexico official data '(in Spanish)
Jump up ^ abstract of Mexico's recovery
Jump up ^ Bank of Mexico (in Spanish)
Jump up ^ Ixe-Banif monthly analysis
Jump up ^ OECD, 22 0ct 2010 (in Spanish)
Jump up ^ Secretariat of Finance and Public Credit estimate (in Spanish)
Jump up ^ National Institute of Statistic and Geography official data (in Spanish)
Jump up ^ National Bank of Mexico (Banamex-Citi Group) estimate (in Spanish)
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^ Jump up to: a b "Quarterly National Accounts : Quarterly Growth Rates of real GDP, change over previous quarter". Stats.oecd.org. Retrieved 2013-08-17.
^ Jump up to: a b "GDP and main components - volumes: Percentage change on previous quarter (seasonally adjusted, and adjusted by working days)". Eurostat. 10 January 2014. Retrieved 10 January 2014.
^ Jump up to: a b c "Albanian Real growth rate from one quarter to the previous quarter, seasonally adjusted (Qt,i/Qt,i-1), (2005=100)" (XLS). INSTAT. 8 January 2014.
^ Jump up to: a b c d e f "Third Quarter GDP Times Series 2013: Gross Domestic Product by Activity, Constant 2000 prices – BZ$ million" (XLS). Statistical Institute of Belize. 18 December 2013.
^ Jump up to: a b "PRODUCTO INTERNO BRUTO TRIMESTRAL 2010 Primer Trimestre (each chapter is packed into an overall rar file)" (RAR+PDF). PIBtrimestral1r20104.pdf: Capítulo IV (Ajuste Estacional y Extracción de Señales Por Actividad Económica) - Cuadro N° 04.01.02, BOLIVIA: VARIACIÓN CON RELACIÓN AL PERIODO ANTERIOR DE LA DESESTACIONALIZACIÓN DEL PRODUCTO INTERNO BRUTO POR ACTIVIDAD ECONÓMICA SEGÚN, TRIMESTRE, 1991 - 2010 (En porcentaje) (in Spanish). Instituto Nacional de Estadística de Bolivia. 30 July 2010.
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Jump up ^ "Gross Domestic Product (1991-2013, at 1991 constant prices): Original Series, Trend Cycle and Seasonally Adjusted Series". Banco Central de Costa Rica. 7 January 2014.
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Jump up ^ "G20 Members". G20.org. Retrieved 15 January 2014.
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^ Jump up to: a b c d e "Jamaican Economic Statistics: National Accounts: Quarterly Rate of Growth of Value Added GDP by Industry at Constant 2007 Prices (Seasonally Adjusted)". Statistical Institute of Jamaica. 31 December 2013.
^ Jump up to: a b "GDP by the production method: Basic indexes - GDP allowing for seasonal fluctuations" (DOC). The Agency of Statistics of the Republic of Kazakhstan. 2012.
^ Jump up to: a b "Table: Gross Domestic Product by production approach, by NKD Rev.1, by quarters (volume indices, compared to the corresponding period of the previous year, %)". MAK Stat Database. State Statistical Office of the Republic of Macedonia. 13 December 2013.
Jump up ^ "Gross Domestic Product 2013 second quarter, seasonal adjustment" (PDF). Table 1B: Seasonally Adjusted GDP at constant 2005 prices - Percentage Change from Preceding Quarter. Department of Statistics, Malaysia. 22 August 2013.
Jump up ^ "Quarterly Gross Domestic Product 2013 third quarter" (PDF). Chart 3 and Table 6B: Seasonally Adjusted GDP at constant 2005 prices - Percentage Change from Preceding Quarter. Department of Statistics, Malaysia. 15 November 2013.
^ Jump up to: a b "Databank table: Seasonally adjustments of Gross Domestic Product and of main elements of use, average prices of 2000, 1995-2010". National Bureau Of Statistics of the Rublic Of Moldova. 31 May 2011.
^ Jump up to: a b "CUENTAS NACIONALES DE PARAGUAY - TERCER TRIMESTRE 2013" (PDF). Anexo: Tasas de variacion - PIB desestacionalizado (t/t-1) (in Spanish). Banco Central del Paraguay. 20 December 2013.
Jump up ^ "Informe Técnico - PBI Trimestral Nº 04 Noviembre 2013: Comportamiento de la Economía Peruana en el Tercer Trimestre de 2013" (PDF). Anexo Nº 4: SERIE DESESTACIONALIZADA POR TIPO DE GASTO, 2002_I - 2013_III (Variación porcentual trimestral del Índice de Volumen Físico respecto al trimestre anterior, Valores a precios constantes de 1994) (in Spanish). Instituto Nacional de Estadística e Informática (INEI). 22 November 2013.
Jump up ^ "3rd Quarter 2013 National Accounts of the Philippines (multiple files packed as a rar file)" (RAR). 3Q2013_SANA_PUB.XLS (page 3): Summary Table 1 - SEASONALLY ADJUSTED NATIONAL ACCOUNTS SERIES at Constant 2000 Prices: Quarter to quarter in million Pesos (First Quarter 1998 to Third Quarter 2013). National Statistical Coordination Board. 28 November 2013.
Jump up ^ "The seasonally adjusted national accounts of the Philippines (Third Quarter 2013): SEASONALLY ADJUSTED NATIONAL ACCOUNTS SERIES at Constant 2000 Prices: Quarter to quarter growth rates (First Quarter 1998 to Third Quarter 2013)". National Statistical Coordination Board. 28 November 2013.
^ Jump up to: a b c "Quarterly gross domestic product by production approach, at constant prices, seasonally adjusted data, of the Republic of Serbia". Statistical Office of the Republic of Serbia. 31 December 2013.
Jump up ^ SingStat Time Series (access to database require payment subscription)
Jump up ^ "Statistical Tables from Economic Survey of Singapore (Fourth Quarter 2008): GDP by Industry at 2000 prices, Seasonally Adjusted" (PDF). Statistics Singapore. 26 February 2009.
Jump up ^ "Statistical Tables from Economic Survey of Singapore (Fourth Quarter 2010): GDP by Industry at 2005 prices, Seasonally Adjusted" (PDF). Statistics Singapore. 17 February 2011.
Jump up ^ "Statistical Tables from Economic Survey of Singapore (Third Quarter 2013): GDP by Industry at 2005 prices, Seasonally Adjusted" (PDF). Statistics Singapore. 21 November 2013.
Jump up ^ "SingStat Table Builder: National Accounts: M013362 - Gross Domestic Product At 2005 Market Prices, By Industry, Quarterly, (SA) (Period on Period)". Statistics Singapore. 21 November 2013.
Jump up ^ http://www.24ur.com/novice/gospodarstvo/recesije-je-konec-bruselj-nam-napoveduje-rast.html
Jump up ^ http://www.sloveniatimes.com/light-at-the-end-of-the-tunnel-slovenia-technically-out-of-recession
^ Jump up to: a b "Macro database: GDP by Expenditures - Seasonally Adjusted (Quarterly, at 2006 prices, 1981-2013)". National Statistics - Republic of China (Taiwan). 29 November 2013.
Jump up ^ "Gross Domestic Product 1993 until Q3/2013: Table 6.1 - Gross National Product and GDP at 1988 Prices (Seasonally Adjusted) q-o-q Growth Rate" (XLS). Office of the National Economic and Social Development Board (Thailand). 18 November 2013.
^ Jump up to: a b "Quarterly gross domestic product estimates of Ukraine for 2001 – 2012" (PDF). Seasonally Adjustment of gross domestic product at constant prices of 2007 (Table 5.1 - Gross Domestic Product, page 99). State Statistics Service Of Ukraine. 30 August 2013.
Jump up ^ "ЕКСПРЕС-ВИПУСК: ВАЛОВИЙ ВНУТРІШНІЙ ПРОДУКТ УКРАЇНИ ЗА 1 КВАРТАЛ - 4 КВАРТАЛ 2012 РОКУ - ВАЛОВИЙ ВНУТРІШНІЙ ПРОДУКТ ВИРОБНИЧИМ МЕТОДОМ (RAPID RELEASE: GROSS DOMESTIC PRODUCT OF UKRAINE Q1-Q4 2012 - Gross domestic product production methods)" (Zip PDF) (in Ukrainian). State Statistics Service Of Ukraine. 17 March 2014.
Jump up ^ "ЕКСПРЕС-ВИПУСК: ВАЛОВИЙ ВНУТРІШНІЙ ПРОДУКТ УКРАЇНИ ЗА 1 КВАРТАЛ - 4 КВАРТАЛ 2013 РОКУ - ВАЛОВИЙ ВНУТРІШНІЙ ПРОДУКТ ВИРОБНИЧИМ МЕТОДОМ (RAPID RELEASE: GROSS DOMESTIC PRODUCT OF UKRAINE Q1-Q4 2013 - Gross domestic product production methods)" (Zip PDF) (in Ukrainian). State Statistics Service Of Ukraine. 11 March 2014.
Jump up ^ "Gross Domestic Product Quarter on Quarter growth". Office for National Statistics. 1 July 2016.
Jump up ^ "Informe Trimestral de Cuentas Nacionales: Julio – Setiembre 2013" (PDF) (in Spanish). Banco Central del Uruguay. 13 December 2013.
Jump up ^ "AGREGADOS_MACROECONÓMICOS: PIB Desestacionalizado. Base 1997 (Trimestral)" (XLS) (in Spanish). 9 December 2013.
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text:
List of countries with left-hand traffic
From Wikipedia, the free encyclopedia
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This article does not cite any sources. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. (October 2014) (Learn how and when to remove this template message)
This is a list of countries and territories with left-hand traffic.
Right-hand side traffic
Left-hand side traffic
Countries with left- and right-side traffic nowadays and formerly. Changes since 1858 when Finland changed to the right are taken into account.

Right-hand side traffic
Now right-hand side, formerly left-hand side
Left-hand side traffic
Now left-hand side, formerly right-hand side
Formerly different rules in different parts of the country, now right-hand side traffic
Countries by handedness of traffic, coupled with the distance/speed unit
Left-hand traffic, kilometers
Left-hand traffic, miles
Right-hand traffic, kilometers
Right-hand traffic, miles
Right-hand traffic, miles per hour (for speed limits) and kilometers (for distances)
Contents
[hide]
1 In Asia
2 In Africa
3 In Australia and Oceania
4 In Europe
5 In South America
6 In West Indies
7 On islands of the Atlantic Ocean
8 On islands of the Indian Ocean
In Asia[edit]
Bangladesh
Bhutan
Brunei
East Timor
Hong Kong
Indonesia
India
Japan
Macau
Malaysia
Nepal
Pakistan
Singapore
Sri Lanka
Thailand
In Africa[edit]
Botswana
Kenya
Lesotho
Malawi
Mozambique
Namibia
South Africa
Swaziland
Tanzania
Uganda
Zambia
Zimbabwe
In Australia and Oceania[edit]
Australia
Christmas Island (Australia)
Cocos (Keeling) Islands (Australia)
Cook Islands (New Zealand)
Fiji
Kiribati
Nauru
New Zealand
Niue
Norfolk Island (Australia)
Papua New Guinea
Pitcairn Islands (U.K. Overseas Territory)
Solomon Islands
Samoa (since September 1, 2009)
Tokelau (New Zealand)
Tonga
Tuvalu
In Europe[edit]
Cyprus
Guernsey (Crown dependency of the United Kingdom)
Ireland
Isle of Man (Crown dependency of the United Kingdom)
Jersey (Crown dependency of the United Kingdom)
Malta
United Kingdom
In South America[edit]
Guyana
Suriname
In West Indies[edit]
Anguilla (U.K. Overseas Territory)
Antigua and Barbuda
Bahamas
Barbados
British Virgin Islands (U.K. Overseas Territory)
Cayman Islands (U.K. Overseas Territory)
Dominica
Grenada
Jamaica
Montserrat (U.K. Overseas Territory)
Saint Kitts and Nevis
Saint Lucia
Saint Vincent and the Grenadines
Trinidad and Tobago
Turks and Caicos Islands (U.K. Overseas Territory)
U. S. Virgin Islands (USA)
On islands of the Atlantic Ocean[edit]
Bermuda (U.K. Overseas Territory)
Falkland Islands (U.K. Overseas Territory)
Saint Helena, Ascension and Tristan da Cunha (U.K. Overseas Territory)
South Georgia and the South Sandwich Islands (U.K. Overseas Territory)
On islands of the Indian Ocean[edit]
Maldives
Mauritius
Seychelles
Retrieved from "https://en.wikipedia.org/w/index.php?title=List_of_countries_with_left-hand_traffic&oldid=807723053"
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text:
Two-second rule
From Wikipedia, the free encyclopedia
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The two-second rule is a time for the defensive driver to judge the minimum safe trailing distance to help avoid collisions under ideal driving conditions. The red car's driver picks a tree to judge a two-second safety buffer.
The two-second rule (also known as the three-second rule in some states) is a rule of thumb by which a driver may maintain a safe trailing distance at any speed.[1][2] The rule is that a driver should ideally stay at least two seconds behind any vehicle that is directly in front of his or her vehicle. It is intended for automobiles, although its general principle applies to other types of vehicles.
The two seconds is not a guide to safe stopping distance. It is more a guide to reaction times.
The two-second rule is useful as it can be applied to any speed. It is equivalent to one vehicle-length for every 8 km/h (5 mph) of the current speed, but drivers can find it difficult to estimate the correct distance from the car in front, let alone to remember the stopping distances that are required for a given speed, or to compute the linear equation on the fly. The two-second rule gets around these problems, and provides a simple and common-sense way of improving road safety.
The practice has been shown to considerably reduce risk of collision, and also the severity of an accident, if an accident occurs. It also helps to avoid tailgating and road rage for all drivers.
The risk of tailgating is largely caused by the accident avoidance time being much less than the driver reaction time. Driving instructors advocate that drivers always use the "two-second rule" regardless of speed or the type of road. During adverse weather, downhill slopes, or hazardous conditions such as black ice, it is important to maintain an even greater distance.
The two-second rule tells a defensive driver the minimum distance needed to reduce the risk of collision under ideal driving conditions. The allotted two-seconds is a safety buffer, to allow the following driver time to respond.
To estimate the time, a driver can wait until the rear end of the vehicle in front passes any distinct and fixed point on the roadway—e.g. a road sign, mailbox, line/crack/patch in the road. This should be done without looking up for more than one second, which would defeat the purpose. After the car ahead passes a given fixed point, the front of one's car should pass the same point no less than two seconds later. If the elapsed time is less than this, one should increase the distance, then repeat the method again until the time is at least two seconds.
One can count the duration of time simply by saying "zero... one... two" but for greater accuracy,[dubious – discuss] it is suggested that drivers say "only a fool breaks the two-second rule". At a normal speaking rate, this sentence takes approximately two seconds to say, and serves as a reminder to the driver of the importance of the rule itself.
The TailGuardian distance advisory decals recently adopted by Stagecoach Buses in the UK use the two-second rule in their calibration.[3] Advisory Decals for 30, 50 and 70 mph are calibrated to be invisible outside those safe distance, only rendering themselves visible once the car following has entered the safety zone for the speed that they are travelling.
Some authorities regard two seconds as inadequate, and recommend a three-second rule.[4] German law requires a minimum 0.9 second distance but when tested under relaxed conditions[5] researchers found that their test subjects spent 41% of the test time at following distances under 0.9 second.
The United States National Safety Council suggests that a three-second rule—with increases of one second per factor of driving difficulty—is more appropriate. Factors that make driving more difficult include poor lighting conditions (dawn and dusk are the most common); inclement weather (ice, rain, snow, fog, etc.), adverse traffic mix (heavy vehicles, slow vehicles, impaired drivers, pedestrians, bicyclists, etc.), and personal condition (fatigue, sleepiness, drug-related loss of response time, distracting thoughts, etc.). For example, a fatigued driver piloting a car in rainy weather at dusk would do well to observe a six-second following distance, rather than the basic three-second gap.
See also[edit]
Assured Clear Distance Ahead (ACDA)
Braking distance
Stopping sight distance
Tailgating
References[edit]
Jump up ^ "The two-second rule". Road Safety Authority (Government of Ireland). Retrieved December 13, 2011.
Jump up ^ "NYS DMV - Driver's Manual - Chapter 8: Defensive Driving". New York State Department of Motor Vehicles. September 2011. Retrieved December 13, 2011.
Jump up ^ "Police support for TailGuardian". Road Safety GB. January 12, 2009. Retrieved December 13, 2011.
Jump up ^ The 3-second rule Smartmotorist.com
Jump up ^ Distance behaviour on motorways Darmstadt University of Technology
External links[edit]
Tutorial: Keep Your Distance—Traveling Safely behind other traffic, by Driving School Ireland
Illinois Rules of the Road—See Chapter 11 "Safe Driving Tips" for details on the "three-second rule"
How to practice following distance rules
Passive advisory decals to following traffic
Retrieved from "https://en.wikipedia.org/w/index.php?title=Two-second_rule&oldid=800716478"
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Rail Budget
From Wikipedia, the free encyclopedia
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Rail Budget of India is the Annual Financial Statement of the state-owned Indian Railways, which handles rail transport in India. It was presented every year by the Minister of Railways, representing the Ministry of Railways, in the Parliament.
The Railway Budget was presented every year, a few days before the Union budget of India, till 2016. The Government on 21 September 2016 approved merger of the Rail and General budgets from next year, ending a 92-year-old practice of a separate budget for the nation’s largest transporter.[1]
Contents
[hide]
1 History
2 See also
3 References
4 Further reading
5 External links
History[edit]
Following the recommendation of the Acworth Committee in 1920-21, headed by British railway economist William Acworth[2] The "Acworth Report" led to reorganisation of railways, the railway finances were separated from the general government finances in 1921. After that in 1924 the budget was announced, a practice that continued till 2016.[3][4][5]
The first live telecast took place on 24 March 1994.
Lalu Prasad Yadav, who remained Railways Minister from 2004 to May 2009, presented the railway budget 6 times in a row. In 2009, under his tenure a ₹108 billion (US$1.7 billion) budget was passed.[6]
In the year 2000, Mamata Banerjee (later Chief Minister of West Bengal) became the first female Railway Minister. In 2002, she became the first female to present the Railway budget and is the only woman to do so for two different governing coalitions (NDA and UPA).
In 2014 budget, Railway Minister D. V. Sadananda Gowda announced the first bullet train and 9 High-Speed Rail routes.[7]
The last Railway Budget [8] was presented on 25 February 2016 by Mr. Suresh Prabhu.
See also[edit]
Union budget of India
References[edit]
Jump up ^ http://www.thehindu.com/news/national/railway-budget-to-be-merged-with-general-budget-from-2017/article8988441.ece
Jump up ^ "No. 32188". The London Gazette (Supplement). 11 January 1921. p. 278.
Jump up ^ Powell Anstey, Vera (1952). The Economic Development of India. Ayer Publishing. pp. 136–137.
Jump up ^ Headrick, Daniel R (1988). The tentacles of progress: technology transfer in the age of imperialism, 1850-1940. Oxford University Press. p. 80. ISBN 9780195051162.
Jump up ^ Debroy, Bibek (6 March 2012). "Railway Budget 2012: Best time to raise fares is now". The Economic Times. Retrieved 19 March 2012.
Jump up ^ "Lalu announces some more trains". The Hindu. 20 February 2009. Retrieved 14 September 2013.
Jump up ^ "Gowda's announces first bullet train between Mumbai-Ahmedabad". Patrika Group. 8 July 2014. Retrieved 8 July 2014.
Jump up ^ "After 92 years, Rail Budget is history". Business Standard. Retrieved 24 March 2017.
Further reading[edit]
Railway Budget Speech 2010 Press Information Bureau, Govt. of India.
Railway Budget, 2012-13 Press Information Bureau
Railway Budget, 2013-14 Press Information Bureau
External links[edit]
Official website of the Ministry of Railways
"Railway Budget Archive (1997-present)". Press Information Bureau.

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