Worst recession in the last 50 years?

The New York Times has an interesting chart on how the current recession compares with other recessions over the last 50 years.

"The current recession has become the second-worst in the last half-century and is close to surpassing the severe 1973-75 downturn, according to the Index of Coincident Indicators, based on government data and compiled each month by the Conference Board, a private organization.

Unlike the more widely followed Index of Leading Indicators, which is supposed to help forecast changes in the economy, the coincident index is aimed at simply recording how the economy is doing now.

The accompanying chart shows how far that index has declined from prerecession peaks during each downturn since 1960."

Click on the chart to view it full size. Full article is HERE.