Submitted by sviterochec t3_zwg08l in worldnews
halee1 t1_j1vr74i wrote
Reply to comment by Sticky_Robot in Ukraine lessens projected GDP fall from 50% to 32% by sviterochec
And according to the Maddison series (which does differ in numbers, but let's ignore that for a moment), US economy was stagnant in the 2nd half of the 1940s thanks to the demobilization, and only surpassed its 1944 maximum in 1951. The UK economy, after mostly strong 1930s and early 1940s, fell in 1944-1947, and only reached new all-time highs in 1954, thanks to rationing resulting from practical bankruptcy and repayment of its massive debts to the US (as well as paying the ones it accumulated since the late 17th century in general).
Germany's first fall was in 1945, a whopping almost 29%, but even moreso in 1946, at the height of Germanophobia among policymakers (52.6%!), forcing it to wait until 1956 before West Germany's size became the all-time high. Austria, surprisingly, only fell in 1945, but lost nearly 60% at that, and only surpassed its 1944 level in 1953.
As for Japan, it fell about 24% each in 1945 and 1946, and only went above its 1944 maximum by 1955.
Everything else is broadly correct, even though the numbers themselves differ a bit.
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