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An economic recovery is the phase of the business cycle following a recession, during which an economy regains and exceeds peak employment and output levels achieved prior to downturn. A recovery period is typically characterized by abnormally high levels of growth in real gross domestic product, employment, corporate profits, and other indicators.
This is a turning point from Contraction to Expansion. This often results in increase in consumer confidence.
The United States of America experienced an economic recovery following the 'Great Recession' of 2008. The United States AMI (Average Median Income) has not statically changed in a dramatic since the end of the Johnson Administration (inflation adjusted). This is due to a lack of industrial policy in the United States over the last 50 years, and an over-reliance on laissez faire economics in this era.