Historical Year Data · 1974

Real GDP in 1974

Real GDP opened 1974 at $6B and closed at $6B, a -1.10% move for the year. The high of $6B was reached on April 1, and the low of $6B on October 1.

Open

$6B

1974-01

$6B

4 data points

High

$6B

Apr 1

Low

$6B

Oct 1

Full Year Change

-1.10%

1973 Change

+1.51%

Monthly Breakdown

Month	Open	Close	High	Low	Change
Jan	$6B	$6B	$6B	$6B	+0.00%
Apr	$6B	$6B	$6B	$6B	+0.00%
Jul	$6B	$6B	$6B	$6B	+0.00%
Oct	$6B	$6B	$6B	$6B	+0.00%

Events During 1974

1973 OPEC Oil Embargo

Stagflation

October 1973 – March 1974

OPEC quadrupled oil prices and embargoed shipments to the United States in response to US support for Israel in the Yom Kippur War. The shock launched a decade of stagflation.