An examination of the development of GDP in the wake of the downturns shows that national output began to recover in 2010 before regressing in 2012. Although the downturn that followed the depression of the 1990s was initially longer, the recovery – once it truly began – was quicker, with the output reaching previous peak levels in six years. The same has yet to take place in the wake of the more recent crisis.
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Current recession longer than '90s depression
On the other hand, the crises do differ in that 20 years ago the decline in national output was due to a diminishing labour force, whereas today the decline is attributable to the erosion of industrial productivity, Vihriälä explains.