Recession of 1958

The recession of 1958, also known as the Eisenhower Recession, was a sharp worldwide economic downturn in 1958. The effect of the recession spread beyond the United States to Europe and Canada, causing many businesses to shut down. Officially, recessionary circumstances lasted from the middle of 1957 to April 1958. Though it is generally regarded as a moderate recession, it was the most significant recession during the post–World War II economic expansion between 1945 and 1973.