By the end of the decade, it had shifted the United States from a traditional, farm-based economy to free market, consumer products based economy.The boom after World War II lasted 37 months, from October 1945 to November 1948.It was supported by three expansions, interrupted by mild and brief contractions.They were: The Korean War lasted from 1950 to 1953.Combined with our innovative business services, they enhance performance and help everyone have confidence in the things they buy and use.Find out more about ASTM NEW VIDEO: Connecting the Dots Over 12,000 ASTM standards operate globally.
The boom ended with the onset of the Cold War in 1947.
Many other economic indicators may have already turned positive before that.
Central banks can use monetary policy to keep a boom going for a long time.
The National Bureau of Economic Research determines when a boom occurs. They are buoyed by better jobs, rising home prices, and a good return on their investments.
It uses economic indicators such as employment, retail sales and industrial production. As a boom starts when economic output, as measured by GDP turns positive.