Historical Year Data · 1979

Real GDP in 1979

Real GDP opened 1979 at $7B and closed at $7B, a +1.10% move for the year. The high of $7B was reached on October 1, and the low of $7B on January 1.

Open

$7B

1979-01

$7B

4 data points

High

$7B

Oct 1

Low

$7B

Jan 1

Full Year Change

+1.10%

1978 Change

+6.32%

Monthly Breakdown

Month	Open	Close	High	Low	Change
Jan	$7B	$7B	$7B	$7B	+0.00%
Apr	$7B	$7B	$7B	$7B	+0.00%
Jul	$7B	$7B	$7B	$7B	+0.00%
Oct	$7B	$7B	$7B	$7B	+0.00%

Events During 1979

1979 Volcker Shock

Stagflation

October 1979 – August 1982

Paul Volcker's Fed raised interest rates to 20% to break entrenched inflation. The policy triggered the deepest post-war recession but ended the stagflation era and established inflation-targeting credibility.