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How much did U.S. gross domestic product decline between 1929 and 1933?
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Great Depression
Unemployed men standing in line outside a soup kitchen, Chicago.
Between the peak of the economic downturn in 1929 and the trough in 1933, the real gross domestic product (GDP) of the United States declined by 30 percent.123
During this same period, the U.S. economy experienced other severe contractions, including a 47 percent decline in industrial production and a 33 percent decrease in the wholesale price index, the latter of which is characterized as deflation.12