• Arts and the recession - The arts suffered more than the overall economy during the great recession of 2007-2009. Between 1998 and 2006, the ratio of current-dollar value added for ACP to current-dollar GDP ranged between 3.5 and 3.7 percent. In 2007, the ratio fell to 3.3 percent of GDP, and dipped further to 3.2 percent in 2009 where it held steady through 2011.