<P> The Great Depression began in August 1929 , when the United States economy first went into an economic recession . Although the country spent two months with declining GDP , it was not until the Wall Street Crash in October 1929 that the effects of a declining economy were felt , and a major worldwide economic downturn ensued . The market crash marked the beginning of a decade of high unemployment , poverty , low profits , deflation , plunging farm incomes , and lost opportunities for economic growth and personal advancement . Although its causes are still uncertain and controversial , the net effect was a sudden and general loss of confidence in the economic future . </P>
during the great depression in the 1930s the u.s. economy experienced a
economic recession