This diagram is a time series line chart. The data source is Posen, 2012.
The vertical axis is labelled ‘Percentage deviation from pre-recession peak’ and is marked from minus 7 to plus 2, at intervals of 1. The horizontal axis is labelled ‘Quarters from pre-recession peak in GDP’ and is marked from zero to 15 in intervals of 1.
There are two lines on the chart, one for the USA and one for the UK.
Both lines start at zero on the vertical axis. The line for the USA is above the line for the UK at all points thereafter.
The USA line declines steadily to a low point of just below minus 3%, in the sixth quarter from the pre recession peak in GDP. It then rises steadily to reach plus 1% in quarter 15.
The UK line declines to almost minus 6% in quarter 5, rises slightly to minus 4% in quarter 10 and then declines again to minus 5% at the end of the period.